If you have followed all of the steps up to this point, you are probably well on your way to a smooth real estate transaction. Receiving an offer on your home is an exciting moment. However, negotiating offers can be the most complex part of the process. Professionally negotiating your price and terms are essential if you want to maximize your return and meet all of your goals. It is important to evaluate a number of items including: the purchase price, loan amount, closing date, earnest money, option period details, title policy details, residential service contract details, potential appraisal concerns, and leaseback timeframes, just to name a few. Professional agents can drastically differ in this area, make sure to align yourself with an experienced mind capable of explaining his or her client’s positions and defending them strongly.
The Counter Offer
Negotiating offers can result in one of three situations from a seller: approving and accepting all terms, declining an offer, or submitting a counter offer (also known as declining the original offer). Your real estate professional can give you advice on how to negotiate the terms and where to be firm or open to compromise in an effort to maximize your goals.