AN OFFER YOU CAN REFUSE...BUT WAIT!

            Your realtor calls to say there is an offer on your home and you are thrilled. Then when the Realtor describes the offer, your excitement deflates into disappointment, you may even be insulted by the offer - it's not enough!  Or perhaps the buyer’s terms are challenging:  he also want to postpone the closing for four months, he wants all your furniture, or your boat at the dock!   Your immediate response is no - you can’t see how it will work.

            The key is to remain calm, and have an open  discussion with your realtor as to whether a counter-offer should be made. Sometimes the offer is so low  and unless there are material defects that have come to light, a counter-offer is truly not appropriate.  But in most cases, a counter keeps the conversation going and often with good will on both sides, a deal can be made. It’s important to remember that a buyer generally presents terms most favorable to her, with the expectation of a counter-offer from the seller.  

            A skilled real estate agent will help you craft a good counter.  Your counter-offer should give the purchaser a sense of what is important to you and what is not. Although the price is probably the most important part of the offer, it’s also necessary to look beyond the price and consider conditions that will impact  the net return to the seller. For example, a delayed closing will require the seller to carry expenses of the house longer, a lower cash offer, may be a better bet than a higher offer with questionable contingencies.  If the buyer’s financial qualifications are shaky or the offer has any questionable terms or conditions, you and your Realtor should sort out the risk you can live with and shape a counter‑offer that delivers something that works for you and the buyer.  Finding that middle ground is the “art” in the deal.  You may have to go back and forth more than once, and there will probably be compromises on both sides, but with a lot of patience and skill, you and your agent can create a scenario that will work for you and the buyer.

            When choosing a Realtor to represent you, consider the experience and entire skill set of the agent.  This is where the rubber meets the road – your agent is the deal-maker, and all the glossy brochures and pretty pictures and the size of the firm, will make no difference if the deal cannot be brought to fruition.  We are skilled negotiators at Beninati Associates, we have lots of experience and we drive your deal home!!!  For professional advice on all aspects of buying or selling real estate, call us at 631-765-5333, email broker@beninatiassociates.com or visit our headquarters at the corner of Horton’s Lane and Main Road in Southold.