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Negotiating offers can be tricky business. The offer to purchase is more than one party offering a certain dollar amount in exchange for the property. There are other terms that can be just as important as the actual sales price of the house. In short, the highest offer is not necessarily the best offer. Listed bellow are a few negotiating points. Time: The seller may need to be out of the house by a certain date in order to meet job obligations. In turn the buyers making the offer may be asking for a later closing date due to other obligations on their end. If the two parties can't come to agreement on the closing date, the price of the home becomes irrelevant and the sale could be lost. As your realtor I can offer valuable solutions to situations such as this. Repairs: Often buyers will offer close to or above the asking price, but in exchange ask that specific repairs be done. Making the repairs may or may not work in the best interest of the seller. It may be a better decision to refuse the repairs, make a counter offer, or just move on to another offer. Expenses: Some expenses are lender required, and others are negotiated between the buyer and seller. Expenses like: title insurance, survey, and appraisal are all negotiable. Knowing what expenses are typically charged to the seller and what expenses are typically charged to the buyer can make a big difference to your bottom line. Multiple offers and Back-up offers: If the property is priced properly and shows well the seller could quite possibly receive multiple offers at the same time. If done properly negotiating multiple offers can often times bring a sales price that exceeds the asking price. Contingency offers: All offers are contingent upon something. Inspections, financing, and survey are all examples of contingencies that are expected and possibly unavoidable in a purchase offer. It is also not uncommon for an offer to come contingent on the sale of another home. In other words the buyer must sell his current home before he is willing and or able to make good on his offer to buy your home. The acceptance of an offer of this type needs to be carefully thought out. No one can predict how long it will take to sell a home, but as your agent I will do a market analysis on the buyer's current home to determine whether or not it is priced properly. If so I will help you set up the contract so that the contingency can be removed if a better offer comes along. Whether it's negotiating time, repairs, contingencies, expenses or price, I have the experience and knowledge to help you get the best possible value out of your home.
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