Hi - does the $8,000 difference have to do with the purchase price or the buyer's funds needed to close? If it has to do with the purchase price - he may be maxed out on what he can spend so even though the $8,000 may not seem like much - it can be a big difference in qualifying for a loan approval and he just might not have any more to offer. If it's only a matter of needing funds to close - then the answers from Tom and Dirk are your best bet.
The kind of funny part is your comment about the 8k not being that much money - if that were the case then you could accept that offer. :) I've been negotiating an offer for one of my buyers on a home she is trying to buy - we are within about $3,000 of reaching an agreement but haven't gotten there yet. From my buyer's standpoint - the $3,000 is more than she feels the home is worth so in our case it's not a lack of funds, but not wanting to spend more for a home than it's worth and end up with an upside-down value like so many home owners out there right now. We are working with a great listing agent and great sellers and we've all been doing alot of serious looking at competitor homes and working together to meet an appropriate price and I am confident that we will get there soon.
I wish you the best of luck in making your transaction work for all!
Real Estate Broker/Loan Officer
Commonwealth Real Estate & Demark Financial Serivces