When it comes to buying or selling a property, negotiation is an essential part of the process. A counter offer letter is an effective way to negotiate the terms of a real estate transaction. By presenting a counter offer, you can communicate your needs and preferences to the other party and work towards a mutually beneficial agreement.
In this article, we’ll provide you with a real estate counter offer letter template and tips to help you create a compelling letter that gets results. You’ll also find examples of different scenarios and frequently asked questions about counter offers that will help guide you through the process.
Tips for Writing a Real Estate Counter Offer Letter
Before we dive into the examples, here are some general tips to keep in mind when writing your letter:
- Be concise and clear in your writing.
- Clearly state your position and your reasons for requesting a counter offer.
- Be respectful and professional in your tone.
- Include specific details and numbers to support your offer.
- Proofread carefully before sending.
Examples of Real Estate Counter Offer Letter Template
Asking for a Lower Price
Dear [Seller’s Name],
Thank you for your offer on [property address]. While I appreciate your initial offer, I would like to propose a counter offer of [offer amount]. Based on current market conditions and comparable sales in the area, I believe this is a fair price for the property.
I look forward to hearing your thoughts on this counter offer and hope we can come to a mutually beneficial agreement.
Sincerely,
[Your Name]
Asking for Repairs to be Made
Dear [Seller’s Name],
Thank you for your offer on [property address]. However, after completing a thorough inspection of the property, I have identified several necessary repairs that must be made before I can move forward with the purchase.
Therefore, I would like to propose a counter offer that includes a reduction in the purchase price to cover the cost of repairs, or that the repairs be completed prior to closing the sale. I believe this is a reasonable request and look forward to hearing your thoughts on this counter offer.
Best regards,
[Your Name]
Asking for a Longer Closing Period
Dear [Seller’s Name],
Thank you for your offer on [property address]. However, I am currently in the process of securing financing and would like to request a longer closing period to ensure that everything goes smoothly.
Therefore, I would like to propose a counter offer that extends the closing date by [number of days/weeks]. I believe this will provide enough time to finalize my financing and move forward with the purchase.
Thank you for your consideration and I look forward to working with you to come to a mutually beneficial agreement.
Best regards,
[Your Name]
Asking for a Higher Purchase Price
Dear [Buyer’s Name],
Thank you for your offer on [property address]. While I appreciate your initial offer, I must respectfully decline it and propose a counter offer of [offer amount]. Based on current market conditions and the unique features of this property, I believe this is a fair price for the property.
I understand that this counter offer may be higher than your original offer, but I believe it reflects the true value of the property. I hope you will agree and we can move forward with the purchase.
Thank you for your consideration and I look forward to hearing your thoughts on this counter offer.
Sincerely,
[Your Name]
Asking for Closing Costs to be Covered
Dear [Seller’s Name],
Thank you for your offer on [property address]. While I am interested in moving forward with the purchase, I am concerned about the financial burden of closing costs.
Therefore, I would like to propose a counter offer that includes the seller covering [percentage or dollar amount] of the closing costs. I believe this is a fair request given the current market conditions and the value of the property.
Thank you for your consideration and I look forward to working with you to come to a mutually beneficial agreement.
Best regards,
[Your Name]
Asking for Furniture or Appliances to be Included in the Sale
Dear [Seller’s Name],
Thank you for your offer on [property address]. While I am interested in moving forward with the purchase, I would like to request that certain furniture or appliances be included in the sale.
Specifically, I would like to request that [list of items] be included in the sale at no additional cost. I believe that these items are an important part of the property and would like to ensure that they are included in the purchase.
Thank you for your consideration and I look forward to hearing your thoughts on this counter offer.
Best regards,
[Your Name]
Asking for a Rent Back Period
Dear [Buyer’s Name],
Thank you for your offer on [property address]. While I am interested in moving forward with the sale, I have some concerns about being able to move out of the property in time.
Therefore, I would like to propose a counter offer that includes a rent back period of [number of days/weeks] after closing. This will allow me to stay in the property while I make arrangements for my move.
I hope this counter offer is acceptable to you and I look forward to hearing your thoughts on this proposal.
Sincerely,
[Your Name]
Frequently Asked Questions about Real Estate Counter Offers
How do I know when to make a counter offer?
It’s important to make a counter offer when the initial offer is not acceptable to you. This could be due to price, terms, or other factors. You should carefully consider your needs and preferences before making a counter offer and be prepared to negotiate with the other party to come to a mutually beneficial agreement.
How do I determine what to include in my counter offer?
Your counter offer should be based on your needs and preferences as well as the current market conditions and the value of the property. You should carefully consider what terms you are willing to accept and what terms are non-negotiable. It’s also important to be realistic in your counter offer and to be prepared to negotiate with the other party.
What if the other party rejects my counter offer?
If the other party rejects your counter offer, you may need to consider making another offer or walking away from the transaction. You should carefully consider your options and be prepared to negotiate to come to a mutually beneficial agreement.
How long should I wait for a response to my counter offer?
The time it takes to receive a response to your counter offer will depend on the other party’s schedule and priorities. You should be prepared to wait a few days to a week for a response and may need to follow up with the other party to ensure that they have received your counter offer.
Can I make multiple counter offers?
Yes, you can make multiple counter offers until you come to a mutually beneficial agreement with the other party. However, it’s important to be respectful and professional in your communication and to avoid making unreasonable demands.
Do I need a real estate agent to make a counter offer?
No, you do not need a real estate agent to make a counter offer. However, it may be helpful to work with an agent who has experience in real estate negotiations and can provide guidance and support throughout the process.
Conclusion
A real estate counter offer letter is a powerful tool that can help you negotiate the terms of a property transaction. By following these tips and using the examples provided in this article, you can create a compelling counter offer that gets results. Remember to be respectful, professional, and realistic in your communication and to be prepared to negotiate to come to a mutually beneficial agreement with the other party.