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Contact Powers Team

If you have any questions or need more detailed information, please feel free to contact me via phone at 301.613.7253 or fill out the form to let us know how we can help with your real estate needs.

Office Location 795 Rockville Pike,
Rockville, MD 20852
Phone: (301) 613-7253
Fax: (301) 424-9290

Negotiating Offers on the Home Sale

Negotiating is the most important skill that a Realtor has at his disposal.  An experienced Realtor can navigate good deals for his/her client even when the market is not necessarily favorable.  Rarely, will an offer come in for a seller that appears 100% favorable and some negotiation is usually necessary.

Price is not the only item that is negotiable.  And basically, as long as it is in writing (and unless prohibited by law), just about anything can be made as part of an offer or contract of sale.   Such things to be negotiated can include but are not limited to:

Buyer financing – earnest money deposit and loan commitment contingency expiration date

Special inspections or waiving of inspections

Items to convey

Closing date

Settlement company

Occupancy date

 

It is important that you and your Realtor communicate your priorities at the negotiating phase because often there is a lot of give and take and you will want to try to tip the scale in favor of your preferences.  You should know how to answer the following questions to help you decide what is important.

 

1)  How strongly motivated are you in completing the negotiating?  You may consider walking away if the offer is not meeting your needs.

2)  Do you have a settlement scheduled on your own purchase?

3)  How long has the home been on the market and have there been other “better offers”?

4)  Have there been price reductions during the listing period?

5)  Are there competing properties on the market and how does that affect your home sale?

6)  Are you ready to “stop showing” your house (moving on)?

 

Remember that as well as your Realtor working to secure a deal for you, the other agent is working to get the best deal for his/her client.  Sometimes, your best option is just to compromise and get to the settlement table.  Also be sure to keep in mind what type of market you are in.  Sellers only have the upper hand in a seller’s market and in a buyer’s market they often have to compromise or give up much more to get the home sold.

More articles:

  • The decision to sell
  • The difference between a buyer's and a seller's market
  • Do I need a Realtor to sell my home?
  • Staging - what is it and why is it necessary?
  • Pricing it right is critical
  • What determines a home's value?
  • Marketing your home
  • What to expect after listing your home for sale
  • Home Improvements
  • What are disclosures?
  • Short sales, foreclosures, and bank-owned properties (or REO)
  • Lease options
  • Offers
  • Multiple bids
  • What is a seller subsidy?
  • Negotiating offers
  • Now that you have a contract on you home
  • What should I expect at settlement?

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