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Updated over 15 years ago,

User Stats

22
Posts
2
Votes
P M
  • Real Estate Investor
  • North Carolina
2
Votes |
22
Posts

Negotiating a Deal Strategy- Flex on Price or Closing Costs?

P M
  • Real Estate Investor
  • North Carolina
Posted

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?

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