It is tough to make what you feel is a good offer on a home only to have the offer slapped down and countered with a very large amount. It happens to everyone who buys houses. You look at this as a personal failing, but it is not. You wonder what you missed on the house or what the sellers are seeing. You question even the decision to make a home purchase and wonder if you should extend yourself to meet the seller’s offer.
That is the time for you to review all the research you have done on what you can afford, what your needs and wants are, and if this home compares to others you have seen. Again, you do not want to financially overextend yourself no matter how perfect the place is.
Your options are:
1. you can agree to pay the seller’s counteroffer,
2. you can make a counteroffer that is lower than the seller’s counteroffer; or,
3. you can thank everyone for their time and say you are staying firm on your offer, which will probably mean you do not get the home.