The process of buying or selling a home is a delicate experience of finding the win-win scenario for both parties. The current homeowner wants to maximize the sale price so equity to roll into their next purchase. At the same time, the buyer is looking for ways to get the best value for the money spent. Often, you need back-and-forth communication when negotiating the details of the transaction.
Negotiating a Real Estate Transaction
What should you expect when negotiating the sale or purchase of a home? Here are a few tips to help:
- Offer Value: You should consider the dollar amount on an offer. Also look for ways to add value through the offer. For example, a potential buyer might use the strategy of negotiating with a higher offer. Additionally, they might ask the seller to include all closing costs in the deal.
- Home Improvements: It’s also important to evaluate the amount of money needed for essential repairs and work. It is essential to include details about whether the seller will be required to complete the repairs before closing. Or include a cash break in the sale price so the buyer can work on these projects after the transaction is complete.
- Real Estate Agent: It might seem like a simple process to represent yourself in the transaction. But countless details you might overlook if you aren’t working with an experienced real estate agent. The best solution is to enlist the services of a trusted agent who can oversee the negotiations.
- Counter Offers: The other party proposed specific details for the deal. But that doesn’t mean that you must agree with all of their requests. Another option is to reject the offer. Or, it is common for a counter offer strategy to be used. Make your own requests for adjusting either the price or terms of the agreement.
- Contingencies: Sometimes contingencies can be used as an option when negotiating the deal. You have certain stipulations to meet for the deal to move forward. For example, sometimes home buyers will set a contingency based on the sale of their current home.
Personal Real Estate Recommendations
Every situation is unique, which is why you should consider the specific details of the negotiations on a case-by-case basis. Don’t underestimate the benefits of working with a trusted real estate agent for support. Our team is here to assist from start-to-finish. We give you a stress-free way to buy or sell a home for your family.
If you have questions about negotiating a real estate deal, then call us at DUFFY Realty. Our team knows the Atlanta real estate market and we are here to assist with your transaction: (678) 318-1700.