Would you counter?

Homeseller Forum
1

I received an unexpected offer for my house. It’s been on the market for almost three months, and I was preparing to rent it out, so this was a surprise. The offer is low, the lowest I would consider because it puts me at a loss, but it’s about the same loss I would have keeping it as a rental while making updates.

If the offer wasn’t contingent on an inspection, I would just take it, but I expect them to come back after the inspection wanting me to fix things or make financial concessions. I’m torn between countering to raise the price a bit for room to negotiate or accepting and refusing to make concessions after the inspection. What would you do? Any advice?

2

If things are broken, fix them. If they’re just old but functional, I’d accept a low offer and refuse to fix old but working things. You could also cap repairs at a certain amount.

3

Have you disclosed the age of the roof and systems to the buyer? If you’re about to delist, I would definitely counter. You have nothing to lose except the inspection window.

4

Depends on how fast you want to sell. I’d do an ‘as is’ sale and let the buyer worry about repairs. ‘As is’ means they can’t come back at you after the sale.

5

We countered a lowball cash offer and ended up getting terms worth taking. If you counter and don’t like their response, you can still walk away.

6

If you have another offer coming in, let them know they’re in a multiple offer situation and request their best and final offer.

7

I’m still waiting for the second offer. Thanks for the advice!

8

You can write off a portion of depreciation each year on your taxes if it’s a rental, so don’t forget to calculate that into your decision.

9

If I rent it out, I make too much money for tax benefits on rental losses. But I’m concerned about having to recapture depreciation when I sell.

10

Congratulations on the quick offers!

11

Make sure everything is as it appears before losing the first buyer entirely. Congrats and please update us!