If its been on the market three years then slow it right down, I wouldnt up the offer for some time and make them think that this is the last offer for another three years, then offer another 3000 in a month if they havent come down. Use the time to triple check everything and and be sure that your lawyer is up to speed and is happy with everything.
Im with Tcisboss though, its been on the market for 3 years and then they drop 50k on a 350k house on your first offer? Something just seems "off".
Make sure you get legal advice before you sign anything...
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