So we sent the seller a PICRA (Property Inspection Contingency Removal Addendum) asking for them to fix some of the issues, in particularly the damage in the crawl space causing the structural issues. we also asked for a price reduction because of all the things found in the inspection. sellers agreed  to fixing the damage but not the reduce in price, so we counter-offered with a different price.

For example, the buyer will have to come up with the price they want to offer and decide whether to counteroffer without their agent’s input.All the best!

. -$80,000 (selling severed lot) =$247,000 (total costs after selling lot)  and a sale price of $325,000 (Estimated)=$78,000 profit (estimate)This is rough math, so please point out anything glaringly obvious, I would offer well below asking for both home and lot and anticipate counter offers.

I initially offered 150k, expecting a counter offer.

Verbal offers are "suggestions", and will generate worse counteroffers. 

My question is; what should we counteroffer? 

What this data tells me is that if the property has been listed for 30 days or less the likelihood that you will receive a counteroffer is small. 

Go back to the signed purchase contract and the counter offers,  read all the typed lines in the instructions.

What if you asked $800k but received a $775k counteroffer?

AcquireAcquiring a property has many phases--meeting with sales people, looking at a whole range of properties, preparing an offering, responding to counter-offers, arranging financing, meeting with insurance agents, inspections, and actually closing a property.