What you need to know about the negotiating the purchase of a home:
- Only the Buyer and Seller are parties to the contract and make the decisions.
- Consider TODAY’S market. Yesterday’s is history, tomorrow’s is a dream.
- Communicate 100% through me that is what I am here for.
- Offers are generally a starting point for negotiation. The final goal is to have 2 parties agree upon 1 set of written terms and conditions.
- The deposit shows your good faith and will be applied against the purchase price of the home when the sale closes.
- Inclusions/exclusions may include appliances, certain fixtures or decorative items, such as window coverings or mirrors.
- All contracts must be in writing and all changes must be initialed by ALL parties.
- NEGOTIATIONS SHOULD NOT BE TAKEN PERSONALLY. This is a business transaction.
- Right of rescission. Any offer may be verbally revoked BEFORE written acceptance. The proverb, “He who hesitates is lost” can become a factor.
- All communications remain private. The Seller should not hint or give advice during the negotiations or presentations. The Buyer should not discuss an offer with friends until the deal is firm.
- There are 3 directions an offer can go: (1) Acceptance (2) Rejection and (3) A counter offer.
- Price is not the most important factor. Take into consideration the Completion and Possession Dates as well as other terms and conditions.
- The property will continue to be marketed actively until all the subjects or conditions (subject to home inspection, etc.) on the offer are removed.
- Try to be decisive. There can be a build-up of emotional pressure over time. Rely on YOUR intuition and MY objectivity and experience. Be cautious with advice from others (friends, relatives and other professionals).