Negotiating with Buyers
Negotiating Offers With Buyers
When getting ready to negotiate an offer remember your original motive for selling. If you need to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor.
It’s also always good to know how low you will go in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.
An offer has come in!
Bryan Garcia will work on your behalf when negotiating with the buyer or more likely, the buyer’s agent. Keep in mind, we are a team and our goal is to get the best price AND the best terms for you.
Here are some of the ways to ensure smooth sailing through an offer process:
- Go through the Offer to Purchase Contract before the first offer comes in to fully understand it
- Understand and prepare for the best and worst case scenario
- Research and ask questions—understand the buyers and where they are coming from
- Treat all parties with respect and courtesy—return calls, work in a timely manner, do what we say we’ll do
- Negotiate with data and facts about recent home sales and the value of the home, not opinion
- Be prepared to answer hard questions about any valid concerns with the home that the buyers may have
- Have a list of incentives in our back pocket like helping with a down payment, a home warranty or add in appliances that may amount to less than a lower price
- Keep it simple—try to limit counter offers and make sure all contingencies and dates are attainable
Negotiating Terms of Sale
If you focus solely on the price, you may overlook terms that could be favorable to you as a seller like the Buyer may be willing to:
- Pay for most or all of the closing costs
- Take care of any repair costs
- Close quickly—the buyer is pre-approved and ready to close in a time frame that best suits you
- Provide an all-cash deal