Depends on the person. Lots of people say "final" as a negotiating tactic. Some people actually mean "final."

The prudent thing for a buyer to do is to mean it if they say it;
the prudent thing for a seller to do is believe it.

If you are a buyer and try to negotiate the price down can you keep trying after the seller says Final Offer? Is there a rule Realtors follow that prevents them from doing that?

Jane

no "rule" that I know of;
if you want the house, keep trying, but you might not get a response.

If a buyer and seller can't reach an agreement and no binding contract ensues, there is absolutely nothing to prevent either party from making another offer to the other at a later date, provided the property is still unsold.

We have done just that successfully.

There should be no rule that prevents that, but there is the psychology of negotiating and the emotions that are raised in the process. Every case is different. There are no hard and fast rules as to how it should be approached because every buyer and seller has a different motivation. You typically don't want to be bidding against yourself though. If you get really close, two good realtors (one on each side, or one good one handling both sides) should be able to bring it together.
Are you working with a realtor? They should be guiding you in the process. Are you buying a for sale by owner? If so, more information here would be helpful

From jane_ny's previous posts, I think she is the seller.

Sorry, lost track of my post. We are selling our house - its under contract and set to close end of Feb. We are looking at condo's in the area to rent for a 18 months or until my husband decides to retire.

We've looked at many condo/townhouses and I was suprised how expensive they are. We live about 40 mins. outside NYC. We were looking for something big enough to hold all our furniture so we wouldn't have to pay for storing it. We found one we liked although it had some negatives but was close to work and large. Listing price was $3,200 a month. I thought that was ridiculous. It has been listed since Nov. I made an offer of $2,800 and was countered with $3,000. I countered back with $2,700 (I lowered it), they came back with $2,800 (my original offer) and stated final.

I wanted my agent to tell them no deal, they need to come down another $100.00 and she said,'that's their final offer.' I said, 'only final in life is death & taxes.' She did not want to continue countering. I have let it sit and plan to look at other units this weekend.

I know I made a mistake to lower my original offer, but when I did the math I realized I should have originally offered $2,700.

I asked the question because if we don't see anything else this weekend, should I stick to my $2,700 or accept their $2,800. Seems silly we can't get a deal over $100.00.

Jane

Only you can decide what the property is worth to you. If you've looked around you know the value. Is the landlord wiling to wait until end of Feb to start the rent, or will you take the property now?
Personally, if I thought it was the best place I'd pay the $2,800 and be done with it. $100 just isn't a big enough issue.
You think it is silly, so does the landlord, sounds as if it has become emotional for both of you. Just decide what you want, then move ahead.

You are right. Went back this morning and saw some others. Just can't beat the location of this one. I'll give up on the price.

Jane

Your agent is ETHICALLY required to present your offer, regardless whether he/she agrees with it. Especially if she is a Realtor (see Standard of Practice 1-6).

Here is a link that might be useful: National Assoc of Realtors Ethics Code

She is a Realtor but I feel she is uncomfortable about negotiating this. If I insist, she will cut and paste my email and send it to the other agent. I still feel this place should come down another $100.00. I asked because I wondered what 'final' really meant.

Jane

Since you just went through the process of selling your home, I would try to put the shoe on the other foot. How would you feel if someone put in an offer, you countered, and then they lowered their original offer? I would probably not want to deal with that buyer/renter anymore, but that's just me. I would be careful not to get so stuck up on a small amount of money if this is the best available place for you and your husband. How would you feel if they just said they were no longer interested in renting to you at any price? Would you be very upset to lose the home or would you move on easily?

I agree with setancre. when you lower your offer it really sounds like you're playing games with them. if I were selling a house, or renting as a landlord, I probably would be unhappy with the situation and either leave it at the first offer price or go back to sticker.

everyone wants a good deal, but most people wouldn't want to play the game you're playing.

With all due respect, if you came back now and said you'll take the $2800,i'd RAISE it to $2900...

I guess this is how people lose money in realestate. They start taking things personally and forget about the bottom line.

Actually, I think it was a good move to lower your counter. It jarred the owner into coming down to your original offer. I'd have jumped on it and it would have been a done deal. You essentially got everything you asked for. Any more than that is games.

They came down the $100.00. Its cold in NY and its been sitting since Nov. I'm still debating between two other places and that one.

FWIW, I was in no rush to move. If the buyers came down lower I wouldn't have sold them my house. I had come down to a price I felt was fair and we got stuck between $5,000 difference. I wouldn't budge on that $5,000 so both realtors took it off their commission so I got my price.

Jane