08. Negotiating the Offer
Your hard work has paid off and you’ve been successful in attracting an interested buyer to make an offer.
Congratulations! As you review offers, money is a primary factor that you’ll take into consideration, but it’s not the ONLY factor. There are other aspects of the offer to consider, such as financing, appraisal and home sale contingencies, type of financing, seller paid closing costs, home inspections, closing date, etc. If there are offer terms that you’re uncomfortable with, don’t quickly dismiss the offer, negotiate. Actually, you’ll potentially be negotiating throughout the process, such as post inspections and post appraisal. Once an offer is agreed to in writing by all parties, it becomes a binding contract and you are officially Under Contact or Pending. As you review offer terms, keep in mind that the buyer’s agent is required to have a signed agreement to work on behalf of the buyer. Thus, the buyer’s agent is negotiating and coaching on behalf of their client and what serves their best interests, not yours.
Tip: If you have multiple offers, interview the agent and the lender prior to accepting an offer.
Yes, I’ll be available for general questions that you may have as you review offers for FREE!
Yes, I’ll assist with negotiating the best price and terms from beginning to end, including post inspections and post appraisal, if needed, if we decide to work together. In addition, you’ll receive an estimated net sheet that includes the terms for all offers that you receive.
What’s the takeaway? Don’t be in a position where you agree to unfavorable terms just to sell your home. Be aware that every detail of an offer can be negotiated.
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