Accepting an Offer – An Intricate Web of Negotiation
January 16, 2017
Getting into contract: it’s a complex, yet delicate interwoven process. Many are surprised by all the intricacies and nuances that enter into the process of selling one’s home.
I’ve heard: “Oh, in this market you can just stick a sign in the yard…”. That can be true, but that is certainly not how you get the most for your home! Did you know that it’s not always the highest offer that gets the home? There are numerous angles to consider, such as: how do we know the buyer can close; what contingencies did they write into the contract; how many “escape clauses” are built into their offer; are there more motivated buyers that might step up to the right counter-offer…? The process can be mind-boggling, with plenty of behind the scenes “fancy footwork” necessary to get the perfect offer.
Negotiations begin even before offers are received, and include lots of fact finding to assess the motivations and strengths of potential buyers. Once offers are collected, I get to work sorting them and categorizing the terms and conditions. In what can be a lengthy process, Sellers discover that I contact the buyers’ agents and lenders to determine why the price and particular contingencies are given, and what room is there to negotiate on price and terms. We then can speculate on what more can be brought to the table.
Everything in the art of accepting an offer must be carefully calculated and balanced. There are numerous interwoven aspects to consider. That’s why I like the analogy of the delicate, well-constructed spiderweb, where so much has to come together for strength. As your realtor, I bring all this to bear in my negotiations for my clients; it’s an important part of how I get you the highest price with the best terms!Tags: negotiation
This post was written by Rumana Jabeen