This situation comes up in most real estate transactions. I am representing a buyer and I help them make an initial offer to buy a new home and the seller makes a counter offer. At that point, the buyer has some decisions to make.
The first option is to accept the seller’s counter as is by signing the counter offer addendum that the seller delivers through their real estate agent to your real estate agent. Once that is accepted it is on to the next step. Property inspection, which is a topic for another day.
What if the seller’s counter offer is not acceptable? As a buyer, you always have the option of rejecting the seller’s counter and countering with terms that are more acceptable to you.
The third option you have as a buyer is to reject the offer completely and walk away from the transaction. While this is not the most common option that is chosen by a buyer, it does happen occasionally, especially if the buyer has found another home that they like more than the first.
The home buying process can and does get a little tricky sometimes and that’s why having a REALTOR on your side helping you is a tremendous benefit. Working with a REALTOR as a buyer’s agent has tremendous benefits for a buyer. That is definitely a topic for another day because I could write all day about that.
If you have any further questions about this, please leave your question as a comment or contact me by email at firstname.lastname@example.org .