I would think that this is the normal negotiating procedure. It is the way that I have purchased and sold every property in my life (other than new developements).
If I make an offer then I expect the vendor to counter by a drop in the ask. I then raise my offer and we continue until we meet. Is there another way to do it.
Hi Woods you are right but my understanding of the above is that it is the public price of the property has been reduced not the private negotiated price.