Multiple Offer Advice

[Muju Hussain]

Hello BP Community,

I need your advice on a situation I am dealing with currently, and I am trying to figure out the best possible solution or leverage to handle this, and I would greatly appreciate your advice. Thank you in advance!

The Situation is:

We bought a property in Maryland (wholesale) 4 months ago, and we fixed it up nicely, and we listed on the MLS with flat fee listing, so we are selling on our own and just paying the Buyer's Agent commission of 2.5%. We listed the house at $299,995, and the houses in that neighborhood (completely rehabbed properties) sold for $290k in the last 6 months, but obviously they don't have all the bells and whistles our house does (I know that's what most of the sellers think and say, but trust me, we checked out the properties around, and our property has all the things you can think of). Anyway, we listed the property about 4 days ago, and it generated a lot of interest, and we already got a couple of offers, here is my question:

All the offers from the agents are the same:

Full Asking Price with 3% Seller Subsidy

50/50 split of taxes

30 days closing

We countered back with 1% seller subsidy and all the other terms remaining the same.

Now, they countered back (and it's funny they all used the same strategy here):

They raised the full asking price to $305,000 but still keeping the 3% seller subsidy. (All agents are saying that their clients need the closing help)

My concern is what if we accept this offer, and the appraisal comes lower than our listed price.

I know we have a choice to either accept the low appraisal price or stick to our listing price, but what is the benefit to the Buyer's Agents raising the price and keeping the seller subsidy at 3%. I don't want to commit to 3% because that term will apply to the low appraisal offer as well.

What is my best strategy to handle this? Or, what leverage do I have? or, any negotiation strategy will be helpful.

Any advice will be much appreciated!

Thank you!

Muju