SHOULD I COUNTER A LOW OFFER OR WAIT FOR SOMETHING BETTER? In general, it's wise to counter any offer from a well-qualified buyer, even if it's for less than
the asking price. Some sellers don't want to waste their time with an offer that looks like it's going nowhere. They'd prefer to send a verbal message that the offer isn't good enough.
Verbal negotiations can bare fruit. However, verbal agreements to sell real estate are not binding.
So if you do come to a verbal agreement, put it in writing before someone has a change of heart.
Occasionally, sellers are so insulted by a low offer that they refuse to negotiate at all. Unless
the buyer's agent tells you that the offer is the best the buyer can do, look at it as a starting point.
If the offer is unreasonably low, a good strategy is to yield little. This sends a message to the buyers that they will have to do a lot better if they hope to buy your property.
On the other hand, you might agree to split the difference between the buyer's price and yours if the offer is good and one you'd like to work with. Finally, a counter at the asking price wouldn't be out of line if the buyer made an absurdly low offer.