What happens when a buyer makes an offer?
One common first impulse is to ask “How much are they offering?” While price is an important factor, it’s also important to sit back and look at the big picture when negotiating a sale. Consider:
1. Buyer’s financial situation
2. Financing method
3. Your costs
4. Your calendar
We are here to help. We’ve been through this countless times and can help you cut to the chase and come up with a mutually acceptable contract. A call or e-mail today can make a big difference in the future.
How do agents turn a “Tire-Kicker Wannabe” into a “Sign-Here Buyer?”
When the bid is presented to you, listen to the offer, even take notes – but don’t respond until the presentation is complete. You have three choices: (1) accept the contract as presented; (2) reject the contract; or (3) make a counteroffer. Most often, sellers choose the third alternative. The choice is yours, but we can advise you every step of the way.
Art Of The Counteroffer
- If you find some items in the proposal unacceptable, it’s time to negotiate. It’s also time to call on our experience and training, as you did when you first decided to list your home. This is when our professionalism really pays off. We will guide you through the contract maze of small print, explain what each item entails, and help you evaluate the bottom-line impact of price and terms in the bid as well as suggest possible responses.
Remember, everyone has the same goal: you want to sell, the buyer wants to buy, and we want to help close the transaction. Together, we’ll turn your counteroffers into an art. Call or e-mail us right away.
Is negotiating with out-of-town buyers any different?
Just because out-of-town buyers may have to rush is no reason for you to hurry. There’s still time to negotiate after they’ve gone home. Out-of-town buyers are often serious, sophisticated buyers who have purchased at least one home before. That means they may not capitulate to all the seller’s demands just to finalize the contract, and may even bid low the first time around.
Some hints in dealing with an out-of-town buyer:
Who pays the fee of a buyer’s agent?
The offer looks good. You’re ready to accept it, but the buyer is using a buyer’s agent (also called a buyer’s broker) and wants you to pay the agent’s fee.
What is a contingency?
A contingency is a condition on the sale put into the contract by either the buyer or seller to smooth immediate acceptance and protect against specific eventualities. Common contingencies are that the buyer obtain financing or sell their current home, or that the seller has a home inspection done or repairs certain items. Contingencies can be removed by an addendum to the contract, or they can expire if a time limit is specified in the contract.
We have the answers to your home-selling questions. Call or e-mail us or click “Ask Your Own Questions.”