Negotiating The Offer!

This is the part you have been waiting for! The Offer! When an offer is made to you, remember to do these simple things before accepting the offer:

1. Read the offer carefully

2. Be prepared to accept the offer, refuse the offer, or counter the offer.

If you have never negotiated contracts and offers before, then it can be a daunting task. When you feel you'd like some help with this, do give me a call because I can advise you along the path to success.

In all negotiations, it is highly likely that you will want to make a counteroffer. It's also important to consider any contingencies that could arise and make allowances for them.

THE COUNTER OFFER

Sometimes, you will find parts of a contract unacceptable and will want to counteroffer. At this point, you will find my expertise in negotiations and counteroffers to be invaluable. What you need to keep in mind is this:

A. THINK QUICKLY

Although an offer has been made and you'd like to take your time to think about the offer over the next week, you really need to think quickly and get back to the prospective buyer, fast !

This will ensure that the buyer doesn't have time to go “off the boil” and cool their interest in your home. If they do, they can withdraw their offer anytime before you have signed the offer.

In fact, you should have considered your options and responses to any offers, from the moment that you decided to sell your home. That way, you are well prepared in advance.

B. REMEMBER IT'S A LEGAL DOCUMENT

Always remember that offers are binding, legal documents and you should make any counter-offers on the original document, and sign and date them.

Additionally, if you have any conditions on the offer, these should also be noted. Even if the contract goes to and fro between the buyer and seller several times, don't retype the contract in case something is left out.

C. CONTINGENCY CONTROL

You may decide to include a clause in the contract that allows you to reject the offer, if the buyer has placed contingencies in the contract. For example, say you'd like to accept another offer after a certain time period, say 30 or 60 days, then you can write that into the contract. Or, that you require the contingency to be deleted from the contract within 3 days.

Some sellers will demand a higher price on their home, if the contract is subject to too many contingencies: for example - the buyer is dependant upon the sale of their own home. This could mean that you wait 60 days, only to find that the buyer's home still hasn't sold and that you have lost the sale!

Most buyers will add a clause that the contract is subject to the seller's home having passed a Building and Pest Inspection, before the contract is accepted. As the seller, if you have already completed these inspections and passed them, you will certainly speed up the process.

Yes, negotiating contracts, clauses and counter-offers can be a minefield! However, keep in mind that help is available and you should seek it out before it is too late!

This Report is aimed at helping you learn more about negotiating an offer and how to get the best result for you. Thank you for calling on me for help. If there is anything further that you require, do call.