My husband and I found our ‘perfect’ home and put in a backup offer after the sellers accepted another one. They countered our initial offer, and we agreed to their terms, sending over the new contract for them to sign last Friday. However, after the holiday, I received a call from my agent saying the sellers are now asking us to go $20k over the asking price because the home appraised much higher than their original listing. What should we do?
Yes, sellers can counter a counter offer. It’s frustrating, but they may be trying to get the best price based on the appraisal. Consider your budget and how much you love the home.
If you really love the home, you might have to weigh the extra cost against how much you want it. Ensure it won’t stretch your finances too thin.
It’s common for sellers to adjust their asking price based on appraisals. If you feel comfortable, you could negotiate back or consider offering a middle ground.
Think about how this impacts your overall budget. If the $20k increase puts you in a tough spot, it might be worth walking away.
Communicate with your agent about your options. They can help you formulate a strategy based on the current market and your priorities.