Counteroffers

After your initial offer, the seller may counter with a price just slightly below their asking price.

This back and forth dickering can go on a couple of times until you come to an agreement, or someone else steps in and offers the asking price! Your agreement may not be only about the money, either; there may be other terms and demands that you have to deal with.

Just remember that until you have a signed contract, anyone else can step in and make another offer.