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Step 1
Consider your flexibility when you review the counteroffer. Most likely it will be higher than your offer, but lower than the initial asking price. Think about what price you are willing to pay and whether the counteroffer fits the range.
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Step 2
Think about what alternatives can be worked into the offer or may have already been included in a counteroffer. Many times a seller will not meet your initial demands but will try to meet you in the middle by offering appliances or to pay for repairs. Do the math, as some of these non-monetary deals will work out better in your real estate transaction.
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Step 3
Do some calculations and see if there is some flexibility with the down payment if the counter offer is not what you have in mind. Perhaps you can lower the down payment, which will put more money in your pocket and possibly equal out in the long run.
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Step 4
Figure your own counteroffer if the seller's counteroffer doesn't meet your needs. Consider monetary and physical alternatives to what he has offered.
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Step 5
Be realistic in your real estate negotiation. Many people have visions of once-in-a-lifetime deal. In reality, these hardly ever happen. Typically both parties find a sum that is in between both of their ideal numbers.
