How to Negotiate the BEST Offer for Your
"What do I do when I get an offer?" That's a common question asked by all my sellers.
If the offer is at or above your asking price, the answer may be easy. But remember, money is not the only consideration. You may prefer a lower offer with better terms and conditions or a more convenient closing date. When all factors are favourable and the price is right, sign the offer and "reel" the purchaser in.
Typically, with my assistance, you'll negotiate. It's an art (somewhat like fishing), where you may give and take over price, terms and special conditions. Even a seller take back financing, possession date or included chattels may come into play.
Here are some tips to help you throughout the process..
Aim for a SALE!
Remember, while your aim is to get as much as you can for your home, the purchaser's aim is to find your lowest acceptable price. In the end, however, you're both aiming for the same catch.. a sale on the best possible terms for both of you.
Keep communications on an agreeable level. At all stages of negatiation, be as flexible as possible. Don't lose your cool... even if your pruchaser gets tense or you might lose your sale.
Ask Lots of Questions!
When offers come in, they may contain complicated terminology. They should be careful considered in person, either at my real estate office or in the quiet of your own home. Unless you are out of town, offers are best dealt with in person! The other agent and I will help you understand all the ramifications.
Consider All Offers!
Remember, you have three basic choices.. you can accept the offer, reject it , or counteroffer with an alternative that suits you. Give consideration to every offer, even if it's lower than your asking price. Outright rejection is seldom wise. With my counsel you might make a counter offer close to asking price. That'll show that you're not inflexible, nor so anxious to sell that you'll take anything.
When purchasers make an offer, they are in the mood to buy, but moods change. Be sure to respond immediately, even with a counteroffer. Purchasers are know to get "Buyer's Remorse" in the middle of the night. Don't delay responding if you really want to sell now.. keep the dialogue going.. It's not unusual to exchange tow or three counter offers.
Rely On Your Agent.. She's On Your Side!
Realise that an agent is required by law to bring you an offer, no matter how low. Since I know your situation and sometime the purchaser's, I'm in a unique position to help negotiations along. That's the benefit I can offer to you... my years of negotiating experience works to get the highest price the purchaser can pay!
Be Ever So Patient!
Exercise confidence and patience as the purchaser weighs your counteroffers. Be positive! When disagreements occur, iron out the small areas of negotiation before getting to the big items.
Take Care With Conditions!
Conditions.. such as obtaining financing or home inspection .. are typically used to smooth acceptance of a contract without delaying the buying decision. Each condition must be satisfied in a short time frame, usually 3 to 6 banking days!
Call when you're ready to put your home on the market and I'll help you "net" the best offer!
CENTURY 21 Heritage Group Ltd., Brokerage*