Negotiating a deal to sell or buy a real estate can be a daunting task. By following these certain procedures and enlisting the help of an expert Collingwood REALTOR®, the good news is that it can be completed with minimal fuss.
The Negotiation Process
The process begins when a Buyer, acting under the guidance of a real estate professional, issues a contract detailing their offer as well as any other terms of conditions they would like to include. These conditions may include requested closing dates, the amount they would like to use as a deposit or any other special requirements.
The Buyer's legal representative will pass this contract on to the Seller. It is vital that the Seller is also represented by an experienced Real Estate Agent, someone with the expertise in the local property market who can clearly explain all the provisions outlined in the contract.
This is where the personal situation of the Seller comes into play. The Seller must ask themselves the following three questions.
- What are my motives/conditions for selling my home?
- How long as my house been on the real estate market?
- Have I made an offer on another property to complete the chain?
With the guidance of a Collingwood REALTOR® like Christine Smith, a Seller can gain the answers to these questions and decide on the acceptability of an offer.
Getting the Best Deal
Your real estate advisor is contractually obliged to get the best deal for their client. To make this easier, both Buyers and Sellers should listen to the advice given to them and act accordingly; releasing information that will make your position stronger and not expose any vulnerabilities.
It is also important to remember that there is more to the value of a deal than the price of the sale. There are a number of different "sweeteners" that either party can throw in as part of the negotiation process including:
- Flexibility of closing and hand over dates.
- Payment of taxes, inspections and any legal fees that occur over the course of the sale.
- The deposit amount.
- The method of payment.
The End is in Sight
With the negotiations are completed, there are a few things that both parties can do to ensure the deal is closed.
- Respect each other's conditions.
- Be fully transparent about any issues.
- Communicate in a timely and clear manner.
- Defer until all issues are smoothed over.
- Be prepared to compromise within your means.
By following these procedures and listening to the advice presented to you by the real estate agent, you can ensure a smooth negotiation that benefits both the Seller & Buyer and completes the transaction.