Negotiating
Real Estate Offers
Probably the most
useful advice I can give here is to have a target firmly in mind
that you will not cross. As in an auction, when
the excitement builds, emotion can lead you to decisions you may not
otherwise make. At the time of making your first offer, or for the
seller when you set the sales price, you need to make an honest
assessment of what the home is worth to you. As an investment
and as a home.
Consider the needs of the other party.
Maybe you have something other than money that has value to them. It
might be a delayed closing which would allow the other party time to
manage their affairs. It might be allowing the buyer to store items
in your garage for a few days. How important is that washer and
dryer to you, the seller? Including them in a counter offer might
seal the deal.
Reading the other parties responding offer can tell you about
their thinking. If the initial gap is large and the responding
counter offer is small, odds are that party is signaling that they
are fairly firm in their position. If the first countering offer is
generous, then it is likely they may continue to be generous, so be
conservative in your responses.
At all times both parties need to feel they are being treated
fairly. Otherwise they will become resistant. Copyright©
2006 - Chris Kellogg
All Rights
Reserved
Last Modified
05/16/2007 |
