The seller of your prospective home in San Diego County has the right to accept or make a counteroffer after they’ve obtained your purchase offer.
Depending on a handful of variables including if the local market is slanted in favor of buyers or sellers, how long the home in San Diego county has been on the market, the enthusiasm of seller to move out of their previous home and proximity of your offer compared to that of the sellers expectations, dictates the chance likely you will receive a counteroffer from the home seller.
Usually – the counteroffer will attain a larger money deposit or a higher price for the home, a closing date that is on a different day, an alteration of the contingency or the timing of a contingency or the subtraction of specific fees. You have the ability to make a counteroffer in return or you could accept or reject the terms.
The counteroffer will always have an expiration date that it stays on the table for. The offer could become void if another customer matches or exceeds your offer from someone else according to an article in Realtor.com.
What to do with a Counteroffer
The decision you’re about to make – which could be the biggest decision of your life – could depend on how intrigued you are by the home in San Diego County.
You could always accept the first terms if you are in fact OK with the counteroffer and the seller’s terms and conditions.
If the counteroffer isn’t in your best interest, make sure you discuss the species of the offer with your Realtor just to see if you could keep some of the terms that you want to accept. The counteroffer you could make for the home in San Diego County could be with new price, an altered set of contingency dates or a higher earnest money deposit.
Whatever you feel is acceptable to you and you think the homeowners could be swayed to selling their real estate to you.
Remember that you must remain within the limits of your preapproved mortgage and that the house in San Diego County has to appraise so the value evens out or is larger than the sale price.
You will be obligated to go with the deal if the sellers accept the counteroffer to their counter offer. So make sure the home in San Diego County is exactly what you want. Sellers don’t have to respond to your offer and if they don’t, you could try to make a counter offer by the week to maybe push sellers maybe by negotiating.
The best way to deal with this is working with a Realtor. Have your Realtor in San Diego County speak with the seller’s listing agent to see what their priority list is, for example it could be avoiding making repairs, the price or the move-out date. It’s easier to customize your offer so it’s acceptable for the seller in San Diego County when you find more about their motivations.