10-Step Selling Process

Step 1 | Step 2 | Step 3 | Step 4 | Step 5
Step 6 | Step 7 | Step 8 | Step 9 | Step 10

Step 6: Negotiate the offer

Most offers to purchase your home will require some level of negotiation to come to a win-win agreement. Your real estate agent is well versed on the legalities of the real estate contract used in your area and will handle the responsibility of protecting your best interest throughout these negotiations. In addition, your agent has a thorough understanding of the contract itself, including what each contract clause means to you and your buyer, what you will net from the sale of your home, and what areas in the contract lend themselves easiest to negotiation. Your agent will review the written offer with you to make sure that you thoroughly understand what the buyers are offering and what they are asking in return.

Some of the items that you may have to negotiate are:

• Price
• Financing
• Closing costs
• Repairs that need to be done
• Appliances and fixtures
• Landscaping
• Painting
• Occupancy time frame

To really gain some insight into why potential buyers are pursuing the purchase of your home and how they might proceed in the negotiations, it is also important to know as much about the buyer as possible, especially their motivation for buying. Once both parties have reached a point where the deal is acceptable, your agent will be certain that you have a legally executable contract.