AFY Steven Thomas - Seller Book

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 more appealing time-wise. If you were under a time constraint, the second buyer solved your problem. How did he know about the time constraint? You may have disclosed it without thinking when he asked why you were selling. DO GET THE LAST CONCESSION Remaining calm and focused during the counteroffers is the key to getting the last concession. By asking the buyer to give something in return every time he comes back with another request, you gain the upper hand, and he will start backing away from making nonessential demands. The less he thinks he can get away with, the less he will ask for beyond what he really needs. He may be afraid you will request a concession that is important to him and come to understand that letting you have the last concession will be his best deal.

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