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Updated over 2 years ago on . Most recent reply

Maximiliano Rodriguez's profile image
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Maximiliano Rodriguez
  • from El Paso, TX
  • Member since Dec 14, 2020
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Maximiliano Rodriguez
  • from El Paso, TX
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Maximiliano Rodriguez
  • El Paso, TX
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Real Estate Agent

Counter offer $10K higher.

Maximiliano Rodriguez
  • El Paso, TX
Posted

I have a property "pending contract" for $165K. The Bank completed the Appraisal yesterday for buyer A.

However, Buyer B counter offer for $175. Is tempting !

Any advice about way to go?

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Bill B.
  • #3 1031 Exchanges Contributor
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  • Member since Aug 3, 2013
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Bill B.
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Bill B.#3 1031 Exchanges Contributor
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Bill B.#3 1031 Exchanges Contributor
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  • Las Vegas, NV
Replied

You can’t do anything unless buyer a backs out. You could tell buyer b you’ll take a backup offer in case the first deal falls through. 

If they share the appraisal you’ll know if buyer a can get a loan for their offer and if they fall through will buyer b need to bring extra cash?

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