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How to Negotiate the Sale of Your Home

Tips From Our Experienced Moversbeltmann movers home for sale tips

 

It’s official. You did the de-cluttering, staging, and prep to begin the moving and storage process. The home has been listed. Open houses held. And suddenly, you’ve got an offer (or two) from a potential buyer. So now what?

 

After you’ve received your offer, it’s easy to only focus on one portion of it — the price.

 

However, there are other components that can help an offer stand out. Beyond price, these include: any closing assistance, proposed closing date, buyer financing, and their contingencies.

 

This is where it’s important to take a closer look at what exactly is included and see if it’s the right fit for you and yours. Some questions you might want to consider asking include:

 

Is this buyer asking for closing assistance? If so, how much? (For sellers, keep in mind, this factors into your bottom line so consider factoring that into your asking price.)

 

When do they want to close? (This term is real estate lingo for the date to finalize the sale, and officially transfer all the money and ownership.) If you have certain parameters to meet on your end, such as finishing a school year, planning an upcoming moving date, or waiting until you have enough time to make necessary or negotiated repairs, then this timeframe should align with your moving goals.

 

What’s the down payment and earnest money look like? Earnest money is a non-refundable portion of their down payment that buyers offer as a way to show how serious they are. The more earnest money offered, the less likely they are to walk away from the deal.

 

What is the buyers’ financing? Hopefully, your potential buyer has done their homework and is either pre-approved for a loan or making a cash offer.

 

Does it seem like they will have enough cash on hand to close the sale? If there is any doubt, then this offer might not be one to accept.

 

What are their contingencies? Many buyers will have standard contingency plans, such as securing their financing and passing a home inspection. Some might also want to wait until their home sells, or ask for certain furniture and/or appliance items to be included with your sale. These are all questions to discuss with your realtor and determine what makes the most sense for you.

 

When should I negotiate a counter-offer? If the majority of their terms seem acceptable, but you’d like to tweak a few components, then a counter-offer would be acceptable to help decide on the price, closing date, and any other contingency factors that you would or would not be willing to accept. Just be sure to weigh the pros and cons of delaying accepting the offer versus getting what you want out of the sale.

 

In a sellers’ market or popular, these questions might be asked multiple times with multiple offers.

 

At Beltmann, we help you ensure your upcoming moving and storage plans succeed. Contact us for a free contactless quote, and we’d be happy to walk you through the process.