Negotiating at the offer table as a seller is a great feeling. Not only because you’re at the finish line, but also because all your efforts are about to pay off. As a seller, you usually are in more control than the buyer. Use this to your advantage to meet the other half at a mutually beneficial outcome.
Sometimes you get an offer that is significantly below what you were expecting and while this leads to many hurt feelings you should never flat out reject it and instead negotiate with the buyer. You don’t know their intentions and while they may be coming in at a much lower price they may very well be open on settling around the asking price. That’s why you should always try to negotiate the offer. One offer is better than no offer.
In the case of a bidding war you’re fully in control and you have the ability to work with a large number of buyers. However, it’s not always the highest offering price that presents the best options. A firm offer doesn’t guarantee a closing and your goal is to have a buyer that will be able to close on your property. Sometimes, the highest bidder is just not the best candidate for the purchase.
How much is the deposit? What are the conditions (if any)? How much down payment are they putting in? Are they a contractor or end user? These and many more questions need to be fully answered before you can make the final decision.