When you get the counter offer, use that info to your advantage knowing they have no other offers.

Consider those factors and how much you want to keep him into your decision making and consider giving him a microwave upgrade in a compromise counter offer.

I just received three counter offers from some cheapo single family homes and need to decide if I want to budge on them.

Agent could be totally wrong with his head up his A** but he could also have a great knowledge of the market and know what it's going to take to close on one of these houses.We don't have all this info in this particular thread yet.Some applicable NAR Code of ethics language below.Standard of Practice 1-6REALTORS® shall submit offers and counter-offers objectively and as quickly as possible.

Everything is on electronic forms these days, so it's not like agents have to fax papers and/or run all over town getting signatures and counter offers and more.

Tweak the formula as needed.FORMULAARV*70% -Repairs -$3K Closing Costs and Points for Borrowing Funds -Profit(=10% of ARV) -Counter Offer Margin(=3% of ARV) = Max Purchase Price *Make initial offer of 65% of Max Purchase PriceEXAMPLE$100,000 ARV$70,000($100K X 70%)*70%$18,000 -Repairs$3,000 -$3K Closing Costs and Points for Borrowing Funds$10,000 -Profit(=10% of ARV)$ 3,000 -Counter Offer Margin(=3% of ARV)$36,000= Max Purchase Price-----------------------------------------------------------------------------------------$100,000 X 70%= $70,000 (Max buyer will have into the deal including repairs)- $18,000 for repairs= $52,000 (My price to buyers - 70% of ARV minus repairs)- $3,000 closing costs(I try to negotiate as much of the closing costs from both closing away when doing a double close)- $10,000 profit- $3,000 counter offer margin(wiggle room)$36,000= Max Purchase Price*I Make my initial offer at 65% of my Max Purchase PriceInitial Offer= $23,400

My in-laws don't want to move, therefore, they decided to make a counter offer of $190K.

With hubzu, every time I bought I had to accept a counteroffer which was higher than my "winning" bid.I'd imaging you will find xome's process pretty straightforward, especially if you're a realtor.

We are then told that the 1st Offer People Declined the Banks Counteroffer, and that the Seller would like to Counter our Offer.We receive the Counter. 

Well, they finally counter offered....they came back at $350,000. ridiculous.