5 Tips for Negotiating Success
Selling your home is a monumental event – for personal and financial reasons.
Defining your expectations and establishing the “Rules of Engagement” before you begin negotiations will enhance your selling experience.
- Articulate Your Needs – work with your Sutton REALTOR® to define your preferred conditions, desired closing dates and minimum offer price before negotiations begin. Understanding the difference between your needs and wishes will facilitate successful negotiations later.
- The Right Price – when you hit the market with the ‘right’ asking price (and a home in good showing condition), you will probably improve your bargaining power by attracting multiple offers. With a range of potential purchasers to consider, you may drive up the purchase price, facilitate the process with a pre-qualified buyer, or negotiate more attractive terms.
- Anticipate Negotiations – negotiating an offer is a fine balance of give-and-take. Give your Sutton REALTOR® some latitude by establishing the parameters of negotiation upfront. What conditions are you willing to compromise? How might you enhance your offering for potential purchasers? What are your critical priorities?
- Understand the Offer – accepting the Contract of Purchase and Sale is a legally binding agreement. Before you accept / reject / counter-offer, make sure you understand all the legal implications and financial obligations implied in the terms and conditions of the offer (including chattels, inspections, closing dates and financing). When considering the price, remember the factors in closing fees and associated costs to complete transaction. If you have questions or concerns, ask before you sign!
- Leverage Expertise – to ensure all agreements are in your best interest – personally, legally and financially – work closely with all your real estate service partners throughout the selling process. Sutton Associates offer expert real estate counsel and a trusted real estate brand. You will also want to carefully select a lawyer and financing specialist to guide you through the closing process.