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Negotiating With Buyers
Tension between buyer and seller is inevitable. A buyer wants the most house for his money; a seller wants the most money for his house.
If you've employed an agent to represent only you, rely on this professional to direct events toward a satisfactory conclusion. If you are selling on your own, consider hiring an attorney or agent (acting as a real estate consultant) to help with negotiations; alternatively, brush up on basic aspects of the art when you hang out the "for sale" sign.
Review the Tools & Advice section developed for buyers. That will give you a sense of how an informed, well-prepared buyer might go about selecting a home, making an offer and negotiating the best deal.
Dos and don'ts
All negotiating should be done in writing, not orally.
Be careful not to react to trial balloons the buyer sends up hoping to discover your bottom-line price and other terms.
Don't feel you must commit to the first offer presented, particularly when it's below your expectations.
Do remain confident. You've priced your home properly and it's competitive with other houses on the market, so hang tight.
On the other hand, don't disregard a good offer just because it's the first or second one you receive. Early contracts on a well-priced house are usually submitted by the most serious, well-qualified buyers -- people who know their own needs and resources and who have studied the market carefully. A reasonable offer from such a prospect is worth serious consideration and probably a counteroffer from you.
Don't be overly impressed by a large earnest-money deposit -- it doesn't automatically cement a contract. Most offers contain language that makes it likely such deposits will ultimately be returned to their officers if a deal doesn't go through.
Do look for other signs -- contractual and psychological -- as evidence of a buyer's serious intentions.
Do examine each contingency. Beware of the contract that binds only you. Getting a seller to accept an offer that nails down the price and terms but leaves the buyer free to escape through any number of clauses is a perennially favorite buyer strategy.
Once a contract offer passes your preliminary review and becomes a candidate for acceptance, it should be reviewed by your Realtor and/or an attorney or be made contingent on that review.
What You Can Expect From Bill Brynelsen
Having an agent to represent you during the sale of your home is an easy decision to make. The hard decision is who to hire. So, why should you work with Bill Brynelsen on your next home purchase? To learn more about New Market Realty, Inc. Inc. and Bill Brynelsen Click Here.
Getting Started
If you would like to work with Bill Brynelsen, we invite you
to give us a call at (815) 575-1601 or E-mail us at info@mypadd.com
Bill will contact you to discuss starting your home search.
Bill Brynelsen, New Market Realty Inc, provides real estate services to McHenry County Illinois and the communities of Algonquin Illinois, Cary Illinois, Lake In The Hills Illinois, Crystal Lake Illinois, McHenry Illinois, Spring Grove Illinois, Huntley Illinois, Hebron Illinois, Richmond Illinois, Wood Stock Illinois, Wonder Lake Illinois, Johnsburg Illinois and surrounding communities.
