ACCEPTING & NEGOTIATING OFFERS
When the offer comes in Buyers sometimes test sellers with low offers, but don’t get upset or discouraged.
Pro Tips When reviewing offers
If the offer is low, but close to what you want, study the terms carefully, adding up possible expenses such as paying the buyer’s closing costs. Ask for the buyer’s reasoning behind the offer to give you insight into the buyer’s mindset. Could the buyer be trying to buy more house than he or she can afford? Could a change of financing help get closer to your price? Can you afford to help with the buyer’s closing costs if he or she will raise the offer price?
Before you agree, make sure the buyer is pre-approved with a lender and working with a real estate professional. Serious buyers have access to the same comparables as you do, so a buyer working with a real estate professional is more likely to be pre-approved by a lender and informed of current market conditions. A full price offer doesn’t mean negotiations are over. It could signal that the buyer intends to negotiate a lot of repairs or refurbishing costs during the inspection period. Stay calm and reasonable. If you’ve done your homework – priced and prepared your home for the highest, best offer, your home will sell at a fair price.
