The Negotiations
Easiest With A Professional
Depending on the specifics of the housing market, your community and your home, negotiations on the sale of your property may prove to be extremely complex.
The most important element in the negotiations process is the offer. The offer is an offer to purchase your home, at a certain price, with certain specific terms.
There are three possible responses to an offer: acceptance, refusal and counter offer. Acceptance means that you agree to the offer and accept all the terms of the agreement. Refusal means that you totally reject the offer. Homeowners often make the mistake of instantly rejecting the first offer they receive, believing many more will follow for more money only to find out the first offer was the best one. A third option is to make a counter offer to a proposed contract.
In a counter offer, you accept some of the terms of the contract but change some of the details that you are unwilling to accept. The buyer may respond to the counter offer by accepting it, rejecting it or countering the counter offer. Should the buyer choose to counter the counter offer, negotiations will continue until an offer is reached.
The experience and professionalism of a HomeLife Sales Representative will significantly assist you during a tough negotiation. Especially in a cool market, where housing supply outweighs demand, a HomeLife Sales Representative will promote the sale of your home by listing it at an appropriate price with terms that will prove attractive to the buyer.
Even in a hot housing market, where supply offsets demand, a HomeLife Sales Representative will help you sell at the highest possible price and with the best possible terms.
Utilizing their Higher Standards of customer service, our Sales Representatives will do everything in their power to sell your home quickly, at the best possible price.
Questions & Answers
Is it best to turn down the first offer?
In any transaction, it's normal for the seller to wonder, "Could I have gotten more?" and for the buyer to wonder "Should I have paid less?” When your reasonably priced house is put up for sale, the very first lookers may make an offer to buy. That doesn't mean that you've priced your home too low. It means qualified buyers and their Sales Representatives have been looking and waiting for the right home to come on the market at just the right price. Your listing Sales Representative will advise you on all offers.
Does the sale of a condominium or a property within a Homeowner's Association require any special action?
If your property is a condominium, in some areas the buyer is allowed a specific period of time to withdraw after a ratified contract. Ask your listing Sales Representative how this "right of rescission" can affect you. Also, the purchase offer for a condo sale or Homeowner's Association property will contain, in compliance with the law, a requirement that the seller furnish the buyer with certain disclosure information and documents. Ask about condo and Homeowner's Association resale procedures in your area.
Do buyers ever offer more than the listing price?
Rarely, but they do offer "above list" occasionally if they believe it makes their offer more acceptable than other competing offers. For the protection of all parties, it is best to include a separate statement signed by the buyers indicating the buyers' awareness of the list price and their reasons for the higher offer.
What do you do if the property doesn't sell?
The first step is to go over carefully with the listing Sales Representative why the property has not sold. Usually price, items or conditions need to be changed. Study and analyze what has sold in your area and at what price. Then relist the house after adjusting for shortcomings. Another option is to withdraw from the market and rent until the market improves, or simultaneously offer for sale or rent.
When will the yard sign be removed?
Placing a sign in the yard is always done by mutual agreement between listing Sales Representative and home seller. The law allows the sign to remain in the yard after contract ratification, even though "for sale" is changed to "sold" after contract acceptance. However, ask your listing Sales Representative about local sign ordinances.
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