10/06/2020
Be A Smart Negotiator
You found the home you love and are ready to make an offer. Here is where having the right agent becomes very important. Rely on your real estate agent to guide you in the negotiation process.
Your first offer should leave room to negotiate.
Determine upfront where you will start and where you want to end (after any counter offers.)
As you write your offer, consider the following:
Prices of similar homes in the area/block.
Condition of the property - upgrades made and work that is needed.
How motivated is the seller?
Home buyers...are you ready to make an offer?
Your offer will include:
Down payment.
Details about your financing; note that you have preapproval
and spell out who pays what closing costs.
Determine what inspections will be conducted.
Disclosure of defects by seller; repairs that will be made.
Timetable for purchase; date of possession.
Contingencies/cancel clauses to protect buyer and seller.
Guarantees on the condition of the property at time of sale
date for the closing.
If your initial offer is turned down, you will probably make a counter offer. It's important to follow your agent's advice and counsel. Be sure all counter offers are in writing. And if your offer is just going nowhere after several rounds, the wisest course may to walk away and look for a new property.
If you are interested in buying or selling your home, Please message or call me. I'd love to work with you.
Best,
Paul