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 an appointment, call or text Debbie at 408-210-2400, or send an email to Debbie@PropertiesInSiliconValley.com to request a free, no-obligation consultation.
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