Tips To Help You Through The Process Of Selling Your Home

Selling-and-Buying-a-New-Home-For-sale

The negotiation process can be perceived as a difficult part of the sale since you are trying to sell your house at the highest price as possible, but you also want to get the home sold. If you are using a real estate agent to help you with the process, then he or she can provide you with an invaluable source of information to navigate you through. If you are selling your house privately, having a real estate attorney by your side can help you figure out the ins and outs of an offer and help you formulate a sound sales contract that you would be happy with. However, both of those people are not you, the home seller, and you have the greatest vested interest in your home. A little bit of knowledge can go a long way, so here are a few tips on how you can smoothly go through the negotiation process to sell your home without leaving money on the table.

Know How The Process Works

The more you know the ins and outs of the process, the more you will be negotiating from a point of advantage. Many sellers use the costs of the closing and moving as incentives for a home buyer during a difficult market. They may offer to pay for the closing costs or a part of the insurance or HOA fees. Regardless, if you do not know how much the fees of the process cost, then you do not know how much money you are offering when trying to bolster your sale with an incentive. Moreover, just being familiar with the sales process can help give you context during negotiation.

Consider Each Offer Carefully

Do not ever dismiss an offer no matter how outlandish it might sound. Look at each offer and carefully write down a counteroffer. You may find that the best prospect you had was the first one so you want to make sure that you give each buyer a fair look and the proper attention.

Know the Costs and What’s Negotiable

It may be more difficult for you to conduct the negotiation if you have not done your proper homework; understand and be able to explain why you want a certain asking price or what incentives may be on the table. Some buyers may think your asking price is too high, but are willing to negotiate after you inform them as to the various factors that were taken into account to the choice of price.

Keep the bigger picture in mind

There is a saying that says if you know where you are going then all roads will get you there. This is very true in terms of negotiations. You don’t want to go for the highest asking price or the fastest sale. Make sure you know what you really want, and need, out of the final sale of the home.

Would you rather have a lower sales price and sell as is? Would you rather have a higher sales price but throw in a lot of incentives and other potentially complicated strings? Sellers differ on how much time and effort they want to spend on the closing process. A sale process that takes too long may be taking you away from the house that you want to buy and the life that you want to lead. You will be much more equipped to handle the negotiation process if you know what your absolute best deal would be, but also know the minimum deal you require to break even. For example, your minimum deal may be the lowest asking price that you can afford, the buyer keeping all the appliances, and closing the deal in 60 days. Your best deal may be that you receive full price, keep the appliances, the deal is completed in 30 days, and the buyer purchases the home as is. Each one has very different negotiation scenarios and knowing what your range is will help you negotiate what you can offer or decline in a potential agreement.

Are you trying to find help to get your house sold.  Check out our blog for information on how you can sell your house now.  You have to be ready to sell before you ever put it on the market.

By Melissa Gifford

 

 

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