Most offers to purchase your property will require some level of negotiating to come to a win-win agreement. It is critical that you be well versed on the legalities of the real estate purchase contract. In addition to legal issues, you will need to understand basic contract law, including what each clause means to you and your buyer, what you will net from the sale of your property, and what areas in the contract lend themselves to negotiation.
To really gain some insight into why potential buyers are pursuing the purchase of your house and how they might proceed in the negotiations, it is important to know as much about the buyer as possible, especially their motivation for buying. Once both parties have reached a point where the deal is acceptable, you must be certain that you have a legally executable contract.
We save you time and money by representing you through the entire process of offer/counter-offer negotiation, and acceptance. We will review the written offer with you to make sure that you thoroughly understand what the buyers are offering and what they are asking in return. We will help you understand the issues and how they will affect you. It is our primary responsibility to protect your best interest throughout these negotiations. We are highly skilled in the negotiation process with extensive experience in getting you the highest market value for your property.
Please observe the following guide lines when you make a counter-offer:
You should know as much as possible about the property you are selling! You need to know the features of the neighbourhood and the condition of your competition. We will also, research the selling price of other similar properties that have recently sold in the same general area.
Ask questions! We're here to help. Purchase contracts are full of complicated terms and clauses that can be very confusing. Challenge the ideas that are presented to you. If you are uncertain about or disagree with price, a term or conditions, speak your mind. Of course, be sure to do so diplomatically.
Make a counter-offer! As professional real estate agents we will guide you through the process of counting an offer to making sure the final contract is in your best interest. We will make you fully aware of any and all implications of the terms, conditions and inspections.
Prepare & Probe
Your counter-offer will only be as good as your preparation and probing. When you make a counter-offer make it strong, solid, and reasonable. Remember a counter-offer is a proposal. A good counter-offer should be smart, revealing, but never final. Don't forget, there is the other side. Give them something to think about – not a take-it or leave-it proposition. A good counter-offer should evoke a response. The offer/counter-offer is a dialogue of needs and wants and priorities between the buyer and seller. Plan to make concessions – what you are willing to concede. If you know this in advance it won't be a loss it will be part of your plan.
Negotiating with buyers can be stressful and it can be very easy to get irritated. We will help you negotiate, so that the final contract includes the best possible terms and conditions. Getting frustrated with negotiations that seem to be going nowhere will only perpetuate any difficulties you may be having, and may even result in an end to all talks. Keep your cool!
Have confidence when signing documents. If there is something you are uncertain about just ask us – we want you to know what you are agreeing to. Knowledge is power! When you know and understand what is in the purchase contract you will be able to respond to it.
Don't Accept "Nothing" for "Something"
Whenever you agree to give something, be sure to get something in exchange. For example, if you are the seller and you agree to a price reduction, you may want to exclude additional goods that you may have initially included in the listing.
Time Is On Your Side
It's most likely that you and the other party are eager and pressured to resolve the transaction. Acting calm and under control, in addition to taking time to think rationally, will help you in the long run. In short, just think before you act!