Who is this series for?

🔹 First-time buyers who want a clear roadmap.
🔹Move-up buyers ready for or on the path to their dream home.
🔹Investors looking to get started with a smart strategy and are considering options.
🔹 Anyone who hates surprises and wants to be fully prepared for their Home Buying journey!

David Mercier introduces the ultimate home-buying guide, walking you through every step of the process, from pre-approval to move-in day!

1️⃣ The Waiting Game

Waiting to hear back on your offer can feel like an eternity, but patience is key. Soon you’ll probably be discussing counter offers and negotiations with your agent. In the meantime, try to relax. Here’s what might be happening:

• Seller Review: The seller and their agent are evaluating your offer, comparing it to others, and looking for the best offer that fits the seller’s needs. (Remember sometimes that’s money focused, sometimes it’s time focused, etc.).
• Timeline: Most sellers respond within 24-48 hours, but in a competitive market, it can take longer.

⭐  Pro Tip: Stay busy and trust your agent to keep you updated.

2️⃣ Counteroffers and Negotiations

If the seller doesn’t accept your offer as-is, they may come back with a counteroffer and negotiate.

• Common Changes: These might include the price, closing date, or contingencies.
• Your Role: Decide what’s negotiable and what’s a dealbreaker. Your agent will guide you on when to hold firm or make concessions.

⭐  Pro Tip: Keep emotions in check—it’s about finding a win-win situation.

3️⃣ What Happens in a Multiple Offer Situation

If the home has multiple offers (even just two), the process becomes more competitive. Here’s how to handle it:

• Escalation Clause: Consider adding one to automatically increase your bid up to a set limit. (Like a max bid on Ebay). 
• Stand Out: Highlight your flexibility on terms like the closing timeline, etc. 

⭐  Pro Tip: Avoid overextending yourself financially just to “win.”

4️⃣ Be Prepared to Walk Away

As much as you love the home, it’s crucial to stick to your budget and priorities. I always tell my clients you want to like the house enough to see yourself falling in love, but not let yourself fall in love just yet. Even after counter offers and negotiations, there are still more contingencies to work through before the home is yours. 

• Red Flags: If negotiations stall or inspections reveal serious issues, don’t be afraid to move on.
• Other Options: Remember, the right home will come along—it’s worth waiting for.
• Consider the market: When deciding to walk away, chat with your agent about the current market, your timeline, and needs. 

⭐  Pro Tip: Walking away can be empowering. It shows you’re serious about finding the perfect home, not just any home.

5️⃣ Once Your Offer is Accepted

Congrats! Counter offers and negotiations are finished! You’re one step closer to the home being yours…but there is still a number of steps before it’s official. Be excited, but not too excited! Here’s what happens next:

• Earnest Money Deposit: You’ll need to submit this to show your commitment.
• Inspections and Appraisals: Your agent will help schedule these to ensure the home is in good condition and valued correctly.
• Paperwork: Be ready for lots of documents, from loan approvals to finalizing contingencies.

⭐  Pro Tip: If you have specific people/companies you want to work with for inspections, let your agent know before you make the offer on the house!

Your Take Away

Counter offers and negotiation can seem daunting. Submitting an offer is a big milestone, but it’s just the beginning of the negotiation process. Whether you’re waiting, negotiating, or navigating multiple offers, having a knowledgeable agent like me, David Mercier, can make all the difference. Let’s find your perfect home and make the process as smooth as possible!

counter offers and negotiations