Negotiate the Offer
Your real estate agent’s marketing efforts turned out to be quite a success, and you have now received your first offer on your duplex, triplex or fourplex. Do you accept it, or do you play hardball?
Negotiate the Offer and Aim for Win/Win Situations
The decision is entirely yours. However, if the first offer is on the lower end, you can start to negotiate by making a counteroffer to help increase the offer price into your listed price range. Remember this: First offers usually come from motivated buyers. As a seller, you can negotiate and use your buyer’s motivation to leverage a better deal.
Also, keep in mind that you are taking a gamble when you don’t choose any of the lower initial bids and don’t make a counter offer. The longer your home sits on the market, the longer people will look at your listing as if there is something wrong with it — and the less likely you will receive a higher offer at the end of the day.
Is a Higher Price Everything on the Sale of a Duplex, Triplex or Fourplex?
Accepting an offer on your property is understanding your motivation and knowing that a higher price is not everything. Several factors, such as buyers’ willingness to pay all cash with no mortgage, fast close, as-is sale, no appraisal or waive any contingencies, can improve a lower offer.
What’s the takeaway?
Make sure you get your buyer to bring the offer price closer to your listing price but don’t get too greedy. Know your deal-breakers and be flexible and willing to negotiate to find a middle ground and close the deal.
Sometimes finding out what the other party really wants or needs is the key to striking a deal. A good agent can find things out and ask the right questions.
Ready to Sell a Home or Multi-Family Property in Silicon Valley?
Selling a home, duplex, triplex or fourplex does not have to be overwhelming, Debbie Marino is here to help. If you live anywhere in Silicon Valley, click here to set up a free, no-obligation strategy call.
If you’re also looking for a new home or multi-unit in Silicon Valley, use the links below to get started:
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