Need help negotiating house sale!

[Dale Beach]

Hello,

For the first time I am negotiating the sale of a home and struggling with a good strategy and how to move forward.  Here is the background of the current situation.

• House is listed at $297k and I have received 3 offers in the last month:

1. $283k with a contingency that they sell their house first.
2. $270k with a financing contingency, but no inspections contingency
3. Originally $280k no inspection contingency, but came up to $297k full asking when they were told that they were in competition, but they now want 15 business day inspection contingencies

I signed a P&S with the 3rd option of $297k. They are now doing inspections and they are slowly feeding me drip by drip problems they are finding. Nothing serious, but they are obviously trying to get a lower price after the inspection period. When and if they come back with a lower offer, what should I do? Should I tell the buyer I will counter the other 2 offers and see if they come up? Do I stand firm?

I am guessing the buyers strategy of coming up to full asking with 15 days inspection contingency was just to get rid of the other offers, and then they will attempt to get the price down?

Any thoughts?

Thanks!

[Mike Cumbie]

Oh and one more thing,

Learn this phrase (Sound happy and smile inside while saying it)

"Go ahead and write up what changes you want and send them over. We will review them and make sure the numbers on this contract still work out the best for us"

1) Makes them put it in writing

2) Reminds them you can walk away as well

3) Makes them wonder if you have other options that blow things up if they want to change

4) Puts an "us" in there, allows them to not know if you are the only person to work over (great for people who don't like the pressure on the spot)

5) Lets them realize there is a review process on your end and they will be waiting for an answer

6) Detaches emotions by using the words numbers, to you it is just a number deal.

Good Luck