Negotiate the Best Sale Price and Terms
When it comes to the home sale transaction, negotiating the best sale price and terms depends on a number of factors including market conditions and your negotiation skills. Are you selling in a buyer’s or seller’s market and can you remain calm and objective? Enlisting the help of skilled professional is one way to strengthen your bargaining power simply because by doing so you will have an experienced expert at your side who will help you navigate this oftentimes dicey and heated territory.
While market conditions will weigh heavily in your negotiations, there are a number of rules that apply to home sale negotiations regardless of market conditions:
Keep a cool head and don’t take criticisms personally. Homebuyers will list flaws and other qualities they find undesirable about your property in an effort to pressure the sale price. It’s important that you remain calm and objective - after all, not everyone likes wall-to-wall purple shag carpeting.
Don't get bogged down by the little details. If the homebuyer wants the front door replaced or some cracked windows repaired, give the request serious consideration if it’s all that stands between you and the closing table.
No matter what the homebuyer throws your way, don’t digress and offer up a counteroffer that’s based purely on anger or some other negative response. Getting upset and making snarky counteroffers only will delay the transaction.
If you and the buyer can’t agree on a final sale price, consider a "split-the- difference" counteroffer in which you offer a price that is halfway between your asking price and the homebuyer’s offer.
Know in advance which concessions you’re willing to make and which compromises you won’t even consider. Negotiations can get heated so it’s a good idea to have an anchor that can help you stay focused and on track.