Negotiate The Best Sale Price And Terms
When it comes to the home sale transaction, negotiating the best sale
price and terms depends on a number of factors including market conditions
and your negotiation skills. Are you selling in a buyer’s or seller’s
market and can you remain calm and objective? Enlisting the help of skilled
professional is one way to strengthen your bargaining power simply because
by doing so you will have an experienced expert at your side who will
help you navigate this oftentimes dicey and heated territory.
While market conditions will weigh heavily into your negotiation power,
there are a number of rules that apply to home sale negotiations regardless
of market conditions:
Keep a cool head and don’t take criticisms personally. Homebuyers
will list flaws and other qualities they find undesirable about your
property in an effort to pressure the sale price. It’s important
that you remain calm and objective – after all, not everyone
likes wall-to-wall purple shag carpeting.
Don’t get bogged down by the little details. If the homebuyer
wants the front door replaced or some cracked windows repaired, give
the request serious consideration if it’s all that stands between
you and the closing table.
No matter what the homebuyer throws your way, don’t digress
and offer up a counteroffer that’s based purely on anger or some
other negative response. Getting upset and throwing about snarky counteroffers
only will delay the transaction.
If you and the buyer can’t agree on a final sale price, consider
a “split-the- difference” counteroffer in which you offer
a price that is halfway between your asking price and the homebuyer’s
offer.
Know in advance which concessions you’re willing to make and
which compromises you won’t even consider. Negotiations can get
heated so it’s a good idea to have an anchor that can help you
stay focused and on track.
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