Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 15 years ago,
Negotiating a Deal Strategy- Flex on Price or Closing Costs?
I'm not sure if this belongs in this forum or another forum. I am selling a condo FSBO, and have an offer on the table.
The offer is $8,000 below our asking price, and also the offer contract requests that we put $4000 towards closing costs. There is also going to be a 2.25% real estate commission which will be a little over $3000.
I am now drafting a counter-offer. To increase my selling profit, I can come back with a higher price, a lower closing cost contribution, or some combination of both.
My question to the group- is there a strategic advantage to flexing on one of these rather than the other? My inclination is to counter-offer with something close to my asking price but leave in the closing costs because it will be easier for the borrower to get another $1000-$7000 from the bank than come up with cash for the transaction costs. But I'm open to alternate strategies.
What would you do?