DON’T BECOME FLOODEDWITH CONCESSIONS
When a buyer submits an offer to you, unless it’s a fantastic one, you should bring counteroffers to the table. Perhaps a different price and/ or concessions — such as shorter closing dates, terms, modifications of contingencies, or incentives — will enter the negotiations. When reviewing the offer, be sure to consider items that would be unacceptable to you. A counteroffer is used to, in effect, accept some (or most) of the terms of the buyer’s latest offer, while modifying other items. Since there is no limit to the amount of times counteroffers can be made, make sure the buyer will have to wait for your response. Your eagerness to respond may be interpreted as desperation on your part, which, in turn, may give the buyer more leverage. DO MAINTAIN A BUSINESS DEMEANOR Remind yourself that you want to sell your home for the best price and in the shortest time. Seller/buyer relationships come in all shapes and sizes, but no matter what ensues, selling your home is a legal, documented, court-recorded, I’s-dotted-and-T’s-crossed business transaction. People do not get emotionally involved when buying a bag of oranges, but home selling does have a way of sneaking into one’s emotions and triggering negative responses. If the buyer has an inflated ego and acts like a know-it-all, you need tomake sure it does not affect you. On the flip side, if the buyer comes off as the sweetest, kindest, but somewhat financially troubled person you’ve ever met, do not let that dissuade you from your goal of getting a fair deal. Stay on your toes, even if the sale is going along quickly and painlessly. Sometimes it’s an indication that the buyers might back out of the deal. There needs to be a certain amount of discussion by both parties to keep the buyer from jumping ship or, on your part, feeling seller’s remorse. You may sense afterward that the buyer would have been willing to pay more for your home.
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