offer a concession just to break the silence. Do not let experienced negotiators use this tactic to get you to accept successively lower offers without a counteroffer from you and your agent.
DO LEARN WHAT MOTIVATES THE BUYER
Sometimes buying agents will work to learn why you want to sell your home. Agents know that sellers want to go to escrow only once. If the buyer is advised to demand a lower price because of minor defects discovered during a third-party home inspection, they will use this as a negotiating tool. More importantly, an agent for the buyer may advise his client to offer the asking price, knowing that minor flaws exist, only to demand reductions bringing the offer down to what the buyer wanted to pay. Knowing that situations like this happen, don’t let the process of selling your home wear you out. Don’t compromise your time and effort to keep things moving in escrow. Your listing agent should suggest a home inspection before you list to avoid trouble when negotiating the sale.
DON'T FREELY GIVE OUT YOUR INFORMATION
If you have multiple offers on your home, the price is not always the bottom line. Sometimes what you tell the buyer is advantageous to his/her offer, rather than your selling position. For example, let’s say you have two interested buyers. One buyer offers full asking price, thinking that you will readily accept, but tells you she needs a few months to close to get financing finalized or to get inspections. The other buyer casually asks why you are selling, and you offer crucial information about a coming transfer that leads the buyer to offer $10,000 less than your asking price, but agrees to close quickly without any financial or inspection contingencies.
While the first buyer offered more money, the second buyer was
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