Rules of Engagement
Selling your home is a monumental event - for personal and financial reasons. Defining your expectations establishing the "Rules of Engagement" before you begin negotiations will enhance your selling experience.
5 Tips for Negotiating Success
1. Articulate Your Needs
Work with your Sutton real estate broker to define your preferred conditions, desired closing dates and minimum offer price before negotiations begin. Understanding the difference between your needs and wishes will facilitate successful negotiations later.
2. The Right Price
When you hit the market with the 'right' asking price (and a home in good showing condition), you will probably improve your bargaining power by attracting multiple offers. With a range of potential purchasers to consider, you may drive up the purchase price, facilitate the process with a prequalified buyer, or negotiate more attractive terms.
Establishing your asking price
5 major factors that determine price
3. Anticipate Negotiations
Negotiating an offer is a fine balance of give-and-take. Give your Sutton broker some latitude by establishing the parameters of negotiation upfront. On what conditions are you willing to compromise? How might you enhance your offering for potential purchasers? What are your critical priorities?
4. Understand the Offer
Accepting the Offer to Promise to Purchase is a legally binding agreement. Before you accept/reject/counter-offer, make sure you understand all the legal implications and financial obligations implied in the terms and conditions of the offer (including inspections, closing dates and financing). When considering the price, remember to factor in closing fees and associated costs to complete transaction. If you have questions or concerns, ask before you sign!
5. Leverage Expertise
To ensure all agreements are in your best interest - personally, legally and financially - work closely with all your real estate service partners throughout the selling process. Sutton real estate professionals offer expert real estate counsel and a trusted real estate brand.
