Will they Accept or Counter?

Now comes the waiting.  The seller has your offer in hand.  They can Accept the contract with all the provisions enclosed at the price presented, reject the offer entirely or counter with an offer that is acceptable to them.  

 

If they reject the contract entirely you are back to square one. This usually only happens if they are unwilling to accept contingencies such as a buyer needing to sell their home first, or if you came in with a low offer. 

 

The most common response to an offer is a counter offer.    In this situation, the seller will consider your offer price, contingencies and provisions and reply with changes to any of them that constitute and offer they are comfortable with.  At this point, it is your decision whether to accept the counter offer or if need be, walk away or counter offer again.  This process can go back and forth until buyer and seller either agree on the terms of the agreement, or determine that they are too far apart and choose to move on. 

 

 It's important not to get caught up in personal feelings and ideals when negotiating a contract.  You have to decide for yourself what is worth giving in on, and what you absolutely will not budge on.  Many a buyer has lost a sale because they get caught up in the frustration of a seller being rigid or balking over a couple thousand dollars.  Take a step back and look at the big picture.  Is this really the home the you want?  Is it worth a few bucks extra a month to walk away or are you better to swallow your pride and accept a term that may be a bit more than you wanted to go.  It is ultimately your decision and your Realtor can help you as an educated third party to make a decision that is right for you or you and your family.