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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