Receiving an Offer - Negotiating to Sell

#5 Receiving an Offer

Once a buyer decides they would like to buy your house, an offer will be presented. Review the written document taking care to note what needs to be done by both parties to execute the transaction. The contract should protect the best interests of all parties involved and should be comprehensive in nature. Once you accept the contract, it may be too late to make any changes. The contract, though not limited to this list, should include the following:

• A legal description of the property
• The offering price
• The down payment
• Financing arrangements
• A list of fees and who will pay them
• Amount of the deposit
• Inspection rights and possible repair allowances
• The method of conveying the title and who will handle the closing
• A list of appliances and furnishings which will stay with the home
• The settlement date
• Any relevant contingencies

Remember that the legalities of this phase are very important. If you have any questions or concerns, they need to be addressed right away.

As your agent, I can save you time and money by making sure that the offer is presented to you by a qualified buyer. There is no reason to review an offer if the person(s) making it will not be able to actually buy your home. as your agent, I will also be available to review the written offer to make sure that it is written in a proper way and covers the necessary areas.

#6 Negotiating to Sell

Most offers to purchase your house will require some level of negotiating to come to a win-win agreement. It is critical that you be well versed on the legalities of a real estate contract. In addition to legal issues, you will need to understand contract basics, 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. Some of the things that you may have to negotiate on 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 house and how they might proceed in the negotiations, it is 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, you must be certain that you have a legally executable contract. 

As your agent, I can save you time and money by representing you through the offer, negotiation, and acceptance process. I 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. I will be able to help you understand the issues and how they will effect you. It is my primary responsibility to protect your best interest throughout these negotiations.