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If I list my home at $550K and a full price offer comes in can I counter with a higher price?

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December 03 2013 - US
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Yes! But I'd have to agree with Shannon that it makes the most sense to counter higher only if you have multiple offers. You can specify a price or simply counter "best and highest" and see what you get. For the record, agents and buyers tend to dislike the "best and highest" approach, but so be it. The strength of the buyer's offer matters. A high price means nothing if the buyer can't complete the transaction.
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December 05 2013
Great answers here.  The only reason I would think you should counter at higher then list is if you were in a multiple offer situation and one of them was a full price offer.   If you don't accept a full price offer you risk loosing the buyer and still owing the commission since you have had a ready willing and able buyer that meets all the listing contract specifications.  I would weigh the decision heavily on this one. 
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December 03 2013
Keep in mind that if the buyer is getting financing the house must appraise for the purchase price --- with that in mind it may not matter that you counter higher and buyer accepts.

The bank will only lend the appraised value

And I agree with Lisa - sounds awfully greedy
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December 03 2013
Good reply, Lisa Papp. 

One question:  Did you list your home via a listing agreement with a R/E Agent or did you do it on your own via FSBO, Zillow or other?  If you did it via listing agreement/RE Agent and the Agent has provided a willing and able Buyer willing to fulfill the terms of the listing agreement, then you may owe the Agent regardless of whether you accept it.

Also... Why would you do so given that someone offered you what you want?  Do you feel you listed it too low?
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December 03 2013
You can do anything but why would you want to risk a full price offer because of greed?  You signed a listing agreement in the beginning on a price you agreed to. You also risk breech of contract if all your requirements were met and you pass for no reason.  Make sure you read your listing contract before you make any decisions like that and defiantly talk with an attorney.  I would hate to see you get a wonderful offer and pass then end up selling for a lot less later all the while kicking yourself along the way. Don't burn a bridge if you don't have to.

However if there are contingencies attached to the agreement of sale then you can either negotiate a higher price or take off the contingencies. Talk hard with your agent and even their broker on all your options.
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December 03 2013
 
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