First offer

[James Ramsey]

Well I got over my analysis paralysis on my first deal and made a low ball offer of 10K on a 40K property. 3 bed 1 bath. The house is an estate that has not been lived in for 2 years. They came back with 25K. Do I go back with a quick counter to seal the deal or do I let them stew? Is there a danger that their agent or another in the office will try to work up a deal with another client now that they know what they are willing to take?

[Jerry W.]

Way to go @James Ramsey , do you actually have a value for the property based upon condition and the local sales? If so let that guide you. If the property were really worth $40K it would have sold by now. If it is only worth 20K then I would counter lower. Another factor is how important is it to them to sell quickly, you are in the best position to decide that. Good luck and please let us know how it turns out.