Step 6-
Negotiate the Offer on the Home
Most offers
to purchase your home will require some level of negotiation to
come to a win-win agreement. Your real estate agent is well versed
on the legalities of the real estate contract used in your area
and will handle the responsibility of protecting your best interest
throughout these negotiations. In addition, your agent has a thorough
understanding of the contract itself, including what each contract
clause means to you and your buyer, what you will net from the
sale of your home, and what areas in the contract lend themselves
easiest to negotiation. Your agent will review the written offer
with you to make sure that you thoroughly understand what the
buyers are offering and what they are asking in return.
Some of the
items that you may have to negotiate are:
- The price
- Financing
- Closing
costs
- Repairs
that need to be done
- Appliances
and fixtures
- Landscaping
- Painting
- Occupancy
time frame
To really
gain some insight into why potential buyers are pursuing the purchase
of your home and how they might proceed in the negotiations, it
is also important to know as much about the buyer as possible,
especially their motivation for buying. Once both parties have
reached a point where the deal is acceptable, your agent will
be certain that you have a legally executable contract.
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