The Mavericks (13-5) are off to their best start since 2006-07, the season they won a franchise-best 67 games. They needed Terry's game-winner after wasting a 17-point lead to avoid losing consecutive games for the first time this season.
"He hit a great shot," Mavericks coach Rick Carlisle said. "It's a great win even though we had a lead and they got it back even. I liked the way we fought them off at the end and were able to finish the game."
Andre Iguodala hit a 3-pointer with 5.6 seconds remaining to tie it at 102. He missed badly on a desperation jumper at the buzzer.
"The shot went down, but more importantly, we got the stop at the other end," Terry said.
Team president Ed Stefanski said in a statement that both parties remain noncommittal about a final decision after a nearly two-hour meeting Monday.
Iverson, his agent and business manager met with Stefanski, coach Eddie Jordan and two other members of the organization during the first formal meeting between the Sixers and their former MVP.
"All of us liked what he talked about today. I'm not going to share that," Jordan said before the game. "He's a charming individual. It was really good, really intriguing."
Jason Kidd chipped in with a season-high 22 points and 11 assists for the Mavericks, who bounced back from a 111-95 loss to the Cleveland Cavaliers on Saturday night. Drew Gooden scored 15 points with 10 rebounds and Shawn Marion had 14 points while playing on a gimpy left ankle.
The Mavericks led 92-81 midway through the fourth before the 76ers started their comeback.
Young had seven straight points for Philadelphia, including a 3-pointer with one minute left that brought the Sixers to 101-99.
Kidd hit one of two free throws with 10.6 seconds left. Iguodala tied it with his 3-pointer from the top of the key over Marion, setting the stage for Terry's winner.
Terry caught the inbounds pass from Kidd, faked a shot over Willie Green and swished a turnaround jumper on the baseline.
"That's one of the areas that I like to get to," Terry said. "I pump faked and he didn't go for it. I went up, it was clear, and the rest was history."
The 76ers shot 33 percent in the first half. They shot nearly 50 percent after halftime and enjoyed a huge rebounding advantage, 60-37.
"We just fought all game long," Green said. "We didn't hang our heads and I think those are some positives we can build on."
Kidd scored 13 points in the first quarter, then keyed a big run just before halftime with his passing.
The point guard had three assists in a 14-3 spurt that gave the Mavericks a 53-36 lead. Kidd made an inbounds alley oop pass to Marion for a dunk with 2.1 seconds left in the second quarter, giving Dallas a 57-43 halftime cushion.
Brand returned to the Sixers lineup after missing three game with a sore right hamstring. The forward was 8 of 12 from the floor and grabbed 10 rebounds in 25 minutes.
Philadelphia may be getting more reinforcements with the possible return of their longtime star.
Iverson, a 10-time All-Star who retired last week, is among the free-agent candidates the Sixers are considering to replace injured point guard Lou Williams, who's expected to miss eight weeks after jaw surgery.
Iverson announced his intention to retire last week after no other team expressed an interest in signing the four-time scoring champion. The 6-foot Iverson played three games this season with Memphis before taking a leave of absence to attend to personal matters. He was waived after the two sides agreed to part ways.
- Dallas C Erick Dampier started after missing eight games because of an undisclosed illness. He had three points in 16 minutes.
- The Sixers lost their fifth straight in Dallas.