When you put your home up for sale, you will likely start to receive offers from interested buyers. When selling real estate, it’s essential that you know how to properly negotiate with a potential buyer in order to receive a fair amount for your home.
- Plan Ahead– While selling real estate, the offers you receive may be less than your asking price; you may receive more than one offer; or you may be asked to make expensive repairs as a concession in the sale contract. To avoid surprises and ensure you don’t scare away the perfect buyer, think about how you will handle these types of scenarios before listing your home.
- Don’t Sign Immediately– When an offer comes in for your home and you want to accept it, do not sign immediately. Instead, wait a few hours before accepting and ask a real estate lawyer to review the offer. Using this strategy may cause the buyer to be less demanding during the upcoming inspection phase.
- Do Not Disclose Personal Information–In an ideal situation, you want to have enough time to sell your home without pressure from a divorce, foreclosure, job transfer, or another type of personal situation. If a buyer is aware that you are pressured to sell, they may use this as an advantage during the negotiation process. Do not let buyers know your reason for selling– keep this between you, your real estate agent, and your real estate lawyer.
If you are embarking on the negotiation process while selling real estate, don’t hesitate to get in touch with an experience real estate lawyer for assistance negotiating and determining if the offers you receive are fair.
