When it comes to real estate, both buyers and sellers tend to involve themselves in a day-long negotiation. The aim of the negotiation would be getting the best deal for both sellers and buyers with mutual satisfaction. In some cases, wherein the buyer is not satisfied with the deal and terms on purchasing the property, they submit a purchase offer letter indicating their expectations. The seller may not accept the revised terms and deals sent by the buyers. To make this ongoing negotiation smoother and successful, a seller can create a counter offer letter that addresses fair deals in short.
In a nutshell, using a counter offer letter ensures that the seller won’t miss potential buyers. Creating a perfect real estate counter offer letter should not be a big task for you. To help you with, we have compiled some easy ways to write a real estate counter offer letter along with 5+ examples in this page. Let’s go through it.
It is obvious that the buyer always quotes the price very low from the original tag in the initial purchase offer. So it is always essential for a seller to give a glance at the buyer’s offer and determine the things which you like and dislike. Apart from the price, the buyer may also specify replacement of the home’s roof, walls, floor or any other expensive replacements with the short closing tenure. In this event, you can’t expect the closing date to be so long from the negotiating schedule. It might be too soon or too long. Therefore, it is important to study the buyer’s offer before creating a counteroffer letter in order to make it more pertinent to the buyer’s expectations.
Make sure that the counteroffer letter you write addresses your concerns. The things like changing the total price consideration, replacement options and closing date are the most common in the counter offer letter. If the buyer’s purchase offer is not up to the market, you can highlight it in the letter indicating the market price. If you are not willing to do expensive replacement works on the property, ensure you have stated it in the letter. You can recommend your buyer a range of acceptable closing dates if you have an issue with the closing date stated by the buyer. However, you need to draft a counter-letter which communicates your concerns in order to make a successful deal.
It is important that you use phrases that inspire your buyer to accept the deal. If you are familiar with the buyer’s expectations, you can move the selling process as per their wishes. The deals on pricing, repairing services, etc must be acceptable by your buyer. So before writing the letter, make sure you know their expectations and create it according to that.
It is always good to let your buyers know about your commitment towards making the deal. Writing a counter offer letter earlier, quoting the reasonable price, informing them about the present market price and neighbourhood standards are the important things to add to the counter offer letter. This makes you more reliable and trustworthy and gets you a good deal.
The necessity of writing a counter offer letter is to convince your buyer to make the deal on your terms and offers. Here the buyer won’t feel tedious to read the letter which has multi pages. Hence, make the letter short, that it should be of a one-page letter addressing the whole story.
A professional counter offer letter must follow a certain format. Here you need to know how to organize the letter. A perfect counter offer letter must be of a business letter format which addresses the letter to the buyer. Start with the proper header which mentions the contact information. There are three elements in the letter likely introduction, the body of the letter and conclusion. Each section states your interests in making the deal. Conclude the letter by leaving a section for the signature of the seller, which is you.
Before writing a counter offer letter make sure you have clear reasons for denying the purchase offer sent by your buyer previously, this needs sound research. You will get the best deals and additional advantages if you state logical reasons in the letter. Be honest with the reasons and phrases you address in the counter offer letter. Check this sample.
In order to maintain strong communication with your buyer, you must know how to present an interesting counter offer letter. Since most of the buyers don’t want their purchase offer to be counter offered by the seller, they don’t show interest in reading the full page. Here, Crafting a simple counter offer letter which makes them feel comfortable to read the full page is essential. Check out the simple kind of counter letters attached here.
It is up to the buyer whether to accept the counteroffer or don’t. However, if they are not agreed with the revised terms, they will make the second counteroffer. Therefore it will continue until both parties come to a mutual satisfaction stage. To eliminate the letter to be countered, you as a seller of the property must showcase necessary information in the first counteroffer itself. Check the professional counter offer here.
If you are not satisfied with the purchase offer, you modify the terms and return it to the buyer. This is what we call as a counter offer letter. Here you or your real estate agent send this letter indicating the revised terms of sale. As the letter will be passed to the buyer, it should be more engaging like the sample one attached here.
As a writer of the counter offer letter, you can expect two kinds of response from your buyer if they don’t agree with it. They either choose to walk away from the deal or submit a counter to your counteroffer. However, drafting a perfect counter offer letter can change the story, that the buyer may accept the deal.