CHAPTER 17 How to Close Eff o Close Effectively
STEP 5: NEGOTIATIONS WITH THE B NS WITH THE BUYER
At long last, you have received an offer on your home! Congratulations! Now, how do you handle the negotiations? Without a trusted real estate agent to guide you, negotiations can be very frightening, and they should be! Let’s see what I can do to help. When you begin negotiations, you might get a verbal or written offer, and that’s fine. However, insist that the verbal offer be put into writing immediately, for your legal protection. Standard real estate purchase agreements are usually available at the local title company or the local bar association. Have some on hand as soon as you start showing your home. I would strongly suggest not to use something online. You don't know if that particular form complies with your State guidelines and law requirements. You don’t have to accept an offer as it comes, although that is an option for you. You can reject it outright, or make a counteroffer. Entering into a contract is scary. That’s probably one of the biggest reasons sellers end up hiring a real estate agent. However, if you’re a little queasy about the situation, but are still committed to FSBO, you can always include a little addendum to your contract that says, “Contingent on the approval of my attorney.” If you aren't using a Real Estate Agent I highly suggest you have your attorney look over all the documents executed by both parties. 88
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