Negotiating With A Buyer
Depending on the market in
which you are selling, your position in the negotiations with a potential buyer
can be either a very comfortable one or a difficult one. In a buyer's market, you might not have much
wiggle room in terms of price and contingencies. In a seller's market, you might have a lot of
room to negotiate. Either way, there are
a few things you should know going in.
How Low Will You Go?
Before you even begin
negotiations with a buyer, you need to have a bottom line; this is the lowest price
that you will accept for your home. Your
Premier Beach Realty Agent can help you to determine a realistic selling price for your home, but
only you can decide what you are comfortable accepting. Be prepared to turn down offers that are
below that amount, no matter how much you want to sell.
Keep Your Cards Close
Potential buyers don't
need to know that you have already bought your new home and badly need to sell
this one. Keep that information to
yourself and make sure your Premier Beach Realty Agent does, too.
When a buyer senses that you are anxious to sell, you will quickly find
that you have lost negotiating power.
You do have to disclose
any problems with the home that are already known, especially if there has been
a home inspection and the issue was brought up.
You don't have to tell them about repairs you have already made unless
it helps your sale, such as a new furnace or a new roof.
Beyond The Money
While the amount of money
you get for your home might be the most important thing for you, to the buyer
there might be other items that can help seal the deal. Try adding other incentives instead of going
lower on your price when you counter an offer, such as taking care of some
repairs or paying closing costs for the buyer.
There are plenty of methods your Premier Beach Realty Agent can help you with to come to
an agreement with a buyer without sacrificing the bottom line.
Negotiating can be a tough
process, but with a little help from a professional and some sound advice, you
can get through it and get your house sold for a price you can live with.
