So you've got an offer...

Success! You’ve got an offer!

TMP220 24 So Youve Got An Offer 735X500

Don’t crack open the bubbles just yet though, because now the hard work really begins...

When a potential buyer makes an offer on your house, the sale is still a long way from the finish line. First up, your agent will get the offer in writing, which will then be presented to you for consideration.

You can accept the offer, make a counter-offer on the price or conditions of the sale, or (if you don’t like it at all) reject the offer.

If you decide to make a counter-offer, your agent will get that in writing then present it to the buyer. But be cautious - counter offering gives the buyer the chance to pull out at this point, sending you back to square one. So think carefully about what you put in your counter-offer, and whether it’s likely to send the buyer running for the hills.

If your potential buyer is open to it, you might end up making a few counter-offers before agreeing on a price or conditions, so be ready for a few nail-biting moments in the negotiation process.

Remember also, just because you’ve received an offer doesn’t mean you need to accept it. Though if you’ve advertised the property at “buyer enquiry over”, it can suggest to buyers that you’ll accept any price over your stated amount. So take a deep breath before considering rejecting or counter-offering any offer, and look at all your options.

Think about what’s most important to you - selling the house easily and quickly, or holding out for top dollar. That should make the negotiation process clearer.

This information is not intended as a complete guide, as it doesn’t consider your individual needs or financial situation. Trade Me accepts no responsibility or liability for any inaccuracies or omissions in the content. Always obtain independent legal advice before buying or selling property.