Tuesday, May 21, 2013

How to Negotiate a Home Offer

Here are some simple steps to remember when negotiating an offer. Full Article 

1. Study your competition. Do your homework ahead of time so you have hard facts as to why your home is worth what you have it listed at. Negotiating an offer will not go back and forth so it is important to set a reasonable listing price. 

2. Understand the MarketUnderstanding whether you live in a buyers' or sellers' market comes down to knowing how fast homes in your area sell and whether the sellers were inundated with home offers or simply settled on the one they got. Before you sell your house, ask your agent for information on home sales in your area and talk to your former neighbors about their home sale experience if possible.

3.  Negotiate, negotiate, negotiate. By thinking of the home sale as a transaction with several different pieces, many of which can be tweaked to help the buyer and seller come to an agreement that both can live with, the seller gains significantly more negotiating power. On top of compromising on repairs and upgrades, Melle says that the seller can also throw in or remove home warranties and negotiate their move-out date.

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