Whether you are a buyer or seller, one of the most exciting, yet stressful parts of the whole real estate process is negotiating an offer. Many people have spent a fretful few hours, or maybe a sleepless night, while an endless series of questions filled their minds: can the price be appealing? Can the offer be accepted? Can we agree to the terms of the conditions? Can the deal go through?
While value is most certainly a significant – if not the main – factor in whether or not an offer gets accepted, there is still variety of different issues that all play a part in the decision-making process. This is definitely true in cases where multiple bids are being considered. Offers are not all about the price and how savvy a purchaser is once putting one together will create all the difference.
Of course, having the proper real estate skilled to negotiate on your behalf is another major factor that would mean a difference of thousands of dollars in your pocket, or maybe whether the offer is accepted at all. Here are some points which will help to enhance your negotiating position:
You will get benefit from the experience of a representative WHO has already negotiated the sale of similar homes in the same location and area. Search before hiring your chosen agent what kind of experience and qualified they have in a multiple offer situation, what are these techniques if negotiations get squirrelly.
After all, they are representing your best interests! To do it well, they will need to clearly perceive your desires, your goals and your limitations.
There are lots of conditions that may be eliminated with a little advance planning. For instance, if you pre-qualify for a mortgage, you will not need to include a condition that permits you time to set up financing. This may be a really strong subject especially in a multiple offer. Before writing an offer depending on the case I will try to gather the maximum amount information from the listing agent as I can.
Asking queries that may later come in as a benefit for my clients. Questions like what dates are your clients looking for? Have they found a place to go yet? The more info I will find out can higher prepare us to right the most favorable offer before presenting and obtaining that offer accepted.
Remember, all things in an offer have value. The closing date or sure exclusions might have tremendous importance to the seller, but not to you. The closer your offer ‘mirrors’ the listing, the more appealing it’ll be. I prefer to put out an action arrange on what will be doing once being presented with an offer or multiple offers. I recently did a deal where we received ten offers on the property, there was clear open communication with my (clients) sellers and worked for their best possible interest we ended up with an offer nearly $40,000 higher than list price.
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