Sometimes, you just accept the offer.

Last week I put in an offer on a home that had been on the market for 682 days. Over 300 days at the current list price.

I offered 6% under asking, which was inline with comps and given that the market had rejected their list price, a fair offer.

It’s not that I didn’t expect them to negotiate. I did. There was a little wiggle room.

Instead they decided to try to squeeze. They countered at only 1% off the list price, and they wanted to stay rent-free in the home until the end of summer.

Um no.

I could have countered back. But what they didn’t know what I was on the fence between their house and another. And sometime in that 48 hours they took to respond to my offer, my mind had wandered back to the other.

So when the ridiculous counter finally came in, instead of answering it I simply made an offer on the other house.

The second sellers were not so dumb. They accepted my offer with one small concession on my side. It only took them 2 hours. Deal done!

I am now happily in contract. The first seller’s agent reached out to mine today to ask “what went wrong?” And to see if they could reconsider my original offer. My agent said I was already in contract on another property.

The moral of this story is that buying and selling a home is a negotiation for sure, but don’t overplay your hand. If someone makes you a fair offer, don’t quibble or get cocky. Know what you want upfront money and timing wise and you’ll be a lot more confident in your decision-making, and won’t blow your deal.