Category Archives: home selling negotiation

Home Sellers: Negotiation Tips that Get Your Home Sold

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Home sold with high resale because of home improvement projectsWhen the ‘for sale’ sign goes up in your front yard, the home sale starts to feel real—and can make you very anxious about getting your home sold. Then you get an offer. Hooray…until you see the amount of the offer. Here’s here to navigate through the home negotiation process and on your way to closing.

Know the real worth of your home.

As you go through the negotiation process, you should know the “bottom line” and what a fair offer price actually is. That number is not the amount you need for your next home; rather, it’s the value of the home based on the sale of comparable properties in your area.

Understand what the final amount in the offer is.

As you look at the offer, keep the value of the property in mind—and that any contingencies requested take away from the total sales price. For example, if the offer is for $150,000 with $5,000 requested for closing costs, the total amount offered is $145,000. A knowledgeable real estate can help you with these numbers; contact a local real estate agent for a free assessment of your property.

Don’t be afraid to counteroffer.

Unless the offer is the asking price, don’t hesitate to talk to your real estate about making a counter offer. You have the right to counter offer with a new price, a new amount of closing costs, etc. You can also put an expiration date on your counter offer or ask the home buyer to submit a new offer.

Get a pre-listing inspection to minimize surprises.

Many buyers submit offers contingent on the results of a home inspection. If any issues are found during the inspection, the buyers can request that repairs be made—and who makes them. To minimize the amount of issues found during an inspection, and to control who makes the repairs (and how much you pay to resolve them), get a pre-listing inspection. A pre-listing inspection is done before the home is placed on the market, giving you an idea of what issues need to be resolved; and what costs could lessen the final amount of the sale.