4 Negotiation Tips for Home Sellers When you’ve already placed your home on the market, it can seem like the stress is over once you’ve received an offer, but the buck doesn’t stop there. Instead of being caught off guard when the time comes to negotiate, consider these tips that will assist in making the sale.
Rely On Your Agent
Once you’re at the point where you’ve received an offer and reviewed it thoroughly, the next step is to meet with your agent to get a clear explanation on key details. Your real estate professional should have plenty of experience with this part of the process, and will be able to guide you through what’s an acceptable offer and what you should pass on.
Sell Until It’s Signed
It’s very exciting to receive an offer on your home, but a verbal offer is not set in stone and I highly recommend to request and seriously presented offer be put into writing. The details in a written offer can convey other important factors to consider such as a cash offer or finance contingencies that can leave a buyer off the hook if they don’t qualify for the mortgage . Since a buyer’s offer to purchase your home won’t be official until they’ve signed a contract and put down a deposit, make sure you to keep in touch with other potential buyers that might have interest in your home as a back up. And of course, its never final until the transaction is closed by a title company or real estate attorney. As the old saying goes, it’s not done until all the funds transfer.
It’s Not Just About Money
It’s great to receive the asking price you’re looking for, but there are many things to consider with the sale of your home. In the event that your home inspection reveals a few required repairs, you may need to negotiate what you are willing to fix within the confines of the legal contract. There may be other issues such as furnishings, occupancy dates etc. All this your real estate professional can help you understand and negotiate whats best for you as the seller.
Don’t Hold Onto Your Price
There are no set rules when it comes to price, but if you haven’t received any offers and your house has been on the market for more than 60 days, there’s a good chance it’s time to sit down with your agent and discuss a price adjustment moving forward. While it’s great to know all of the negotiation rules, if your price is set to high for the market, you’re not going to have the opportunity to get to the table.
There are plenty of negotiation strategies to consider when it comes to selling your home, but staying in the game and trusting your agent can go a long way towards a successful sale. If you’re planning on putting your home on the market, please give me a call, I’ll be happy to work you thru the entire process and share with you the successes I’ve had in the last 12 years here in Lely Resort.
Glenna Froelich direct- 239-784-0166, Office 239-449-3644
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