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Updated about 13 years ago on . Most recent reply

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David Kimball
  • Jersey City, NJ
0
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17
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Respond to bank counter offer with firm stance?

David Kimball
  • Jersey City, NJ
Posted

When responding to a counter-offer from a bank, what is the best response?
1) inch up the price by $500 or $1000... or even $1500.
2) respond with the same price firm
3) "Serious" counter offer, i.e. 5-10k more.

If it is acceptable to do so, I think I would like to do option 2, because I honestly did not leave any headroom when I offered my best price.
What can I do to sweeten the terms? Decrease closing time from 45 days to 30 days, or is that kind of silly?

Most Popular Reply

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15,750
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Will Barnard
  • Developer
  • Santa Clarita, CA
10,948
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15,750
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

Impossible to answer with your limited info, however, since u offered your max upfront, u have limited your options. I personally would go back at $1k more which is a statement of, "that was my highest and best" without actually giving an ultimatum.

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