Negotiation Phase of Closing on a Home
Whether you are buying or selling a home it’s important that you understand what’s being asked of you and how you can, or should, respond. When getting ready to FINALLY sign on the dotted line we can find ourselves rushing through important steps in finalizing the selling or buying process. When it comes to the negotiation phase of closing on a home, it should be of just as much importance as accepting the initial offer. As a realtor, I make it my responsibility to explain the process, discuss the options, and help my clients agree to the best outcome for all parties involved. Take your time, think every decision through and don’t hesitate to reciprocate any thoughts to avoid any unwanted repercussion when you close the deal. I cam across this helpful article discussing 5 Facts Home Buyers and Sellers Should Know About Credits from zillow.com.
“No matter which side of the transaction you’re on, you don’t want to give up more than you have to. Too often, getting a signed contract and putting your money into escrow is the beginning of what can become yet another round of negotiations. Here are five things every home buyer and seller should know about last-minute negotiations or credits.”
- Buyers may ask for credits based on property inspections.
- Sellers should consider having a property inspection before listing.
- Sellers may try to avoid giving credits by having work done before escrow closes.
- Buyers who ask for credits just to get the price down may be taking a chance.
- Buyers nearly always ask for credits, so sellers should give themselves some cushion.
