When you are negotiating and the buyer makes an offer, don’t feel compelled to respond immediately. Sometimes it's best to wait an hour or even several hours, but don't wait too long. I've seen buyers move onto another property quickly when they didn't get a response within hours of submitting their offer. Try and take advantage of the “ buying mood,” since moods change, and you don’t want to miss out on a sale simply because you’re stalling. If the offer is low it's natural to want to make them wait but it's still better to send a counteroffer and keep the negotiations going. There are many different strategies on what to counter, how long to wait, and how the counter is presented, this is why skill & strategy in negotiations are crucial.
NEGOTIATIONS AFTER INS NS AFTER INSPECTIONS
If the buyer's agent did a good job he/she will have educated the buyers on what to expect upon a home inspection when buying a used home based on the age, condition, & price paid. Home inspections were designed to uncover deficiencies that you wouldn't have noticed with a visual inspection when touring the home before the offer was made. Unfortunately, its common for inspectors to point out things like the age of the furnace, water heater, roof, and many other normal-aged items that you would expect when buying a used home. The problem is the inspectors can instill fear in the buyers that there will be costly repairs coming even though all the mechanical etc. may be in normal working order. As a result, the buyers will often want to renegotiate the price or ask the sellers to fix or repair items. One thing most sellers don't do is a pre-listing inspection. If you have one done not only can you repair the minor issues in advance but you'll have a full report that you can send to the buyers. They still may do their inspection but having yours in advance they can compare.
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