If you have multiple offers on your home, the price is not always the bottom line. Sometimes, what you tell the buyer will influence his/her offer. 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 he or she needs a few months to get financing finalized and inspections completed. The other buyer offers $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. For this reason, an all-cash offer with no contingencies can be very compelling to the seller.
DON’T BECOME FLOODED WITH C ED WITH CONCESSIONS
When a buyer submits an offer to you, unless it’s a fantastic one, there will likely be some modifications needed to be addressed in a counteroffer, which may include price, Earnest Money, contingencies such as financing and inspections, closing and possession dates, and included/excluded items. A counteroffer is used to, in effect, accept some of the terms of the buyer’s latest offer, while modifying other items. Carefully craft your counteroffer to achieve your objectives and try to accomplish most of the buyer's objectives whenever possible. By doing so, you increase the chance that your counteroffer will be accepted.
DO MAINTAIN A BUSINESS DEMEANOR
75
Powered by FlippingBook