Question

Buyer A indicates to Seller B that he wants to purchase Seller B's property for $300,000. Seller B tells Buyer A that he would be willing to sell the property for $350,000. At this point, which of the following is correct?

Option 1: Buyer A should accept Seller B's offer of $350,000.
Option 2: Seller B should reduce the price to $300,000.
Option 3: Buyer A should offer a higher price than $350,000.
Option 4: Buyer A should look for a different property.

Answer 1

Seller B should reduce the price to $300,000.

Step-by-step explanation:

When Buyer A indicates to Seller B that they want to purchase B's property for $300,000 and B responds by offering to sell for $350,000, the correct option at this point is Option 2: Seller B should reduce the price to $300,000. This is because Buyer A initially offered a price and Seller B countered with a higher price. If Seller B is willing to sell for the original price offered by Buyer A, they should reduce the price to $300,000.