A prolonged listing duration can diminish your home's appeal to potential buyers, making time management essential. NEGOTIATION TECHNI N TECHNIQUE #5: I UE #5: Incorporating Closing Costs Strategically Buyers often request sellers to cover their closing costs, typically around 3 -6% of the home's price. While the prospect of shelling out such a sum may initially discomfort you, this arrangement can work to your advantage. Instead of outright rejecting the request, consider providing the closing costs but simultaneously raise the overall price of the home by the same amount. This approach enables the buyer to avoid immediate out-of- pocket expenses while ensuring that you recoup the closing costs by adjusting the selling price accordingly. By effectively communicating this strategy, you emphasize the fairness of your counteroffer. Think about this from a buyer’s perspective. Many purchasers find it challenging to cover these additional expenses, particularly after allocating funds for the down payment, new appliances, moving costs, and interior decor. Conversely, it may not be equitable for you to bear these costs to facilitate the buyer's home purchase. After all, they not only expect you to assume the closing costs but also lower your initial asking price. The solution lies in covering the closing costs while simultaneously raising the overall purchase price to compensate. If the sole impediment to selling your home is the out-of-pocket closing fees, and you have the financial capacity to cover them, it
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