When a buyer decides to purchase your property, they will with the guidance of their agent, write a contract to purchase. The buyer's agent will deliver the offer to me and I will then present the offer to you. I'll review the terms of the offer with you and explain the significance of each part of the contract. You have the option of responding in one of three ways:
- Accept the offer as is
- Make a counter offer
- Reject the offer
It is advisable to counter a non-acceptable offer. Your counter offer would reflect the price and terms that you would accept.
Webster's defines negotiating as "to confer with another, to arrive at a settlement" and "to get through, around or over successfully." A real estate transaction involves both types of negotiation. Your best interests and the satisfaction of knowing that your home was sold at its highest and best value are at stake. Being familiar with the market conditions and knowing your personal motivation to sell, I will guide you through the negotiation process. With my proven negotiating skills I'll give you objective counsel and caring guidance.
Here are some items that we will consider when deciding how to respond to an offer:
- Price
- Down Payment
- Earnest Money Deposit - An Earnest Money Deposit from the buyer shows their sincere intention to purchase your property
- Is the Buyer Pre-Approved?
- Occupancy Time Frame
- Is the Interest Rate they want available?
- Closing Date
- Possession Date
- Home Protection Plan - Who pays?
- Inspections - What type?
- Personal Property Items included (Appliances, Window Treatments, Garage Door Openers, etc.)
- Contingencies - What and how long?
Contingencies may seem like a minor issue, but they can be a major stumbling block. A contingency means that something else must happen in order for the deal to go through. A purchase may be contingent on the buyer getting approved for financing, selling the home they already own, getting a favorable inspection report, or any number of other things. I'll make sure the contingencies are as specific as possible, and spell out exactly what will happen if the contingency is or isn't met. Once we have finished negotiating the contract, all copies are faxed to your attorney (if you use one) and lender.
