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Considering home purchase offers

November 8, 2011

As a home seller, it can be hard to assess offers from interested buyers. Having lived in a home tends to make it seem more valuable than market conditions allow.  This, coupled with the desire to realize as much profit from the sale as possible, can skew the perception of offers. A listing agent would be able to provide a helpful, objective point of view when it comes to negotiations.

It may be easy for home sellers to reject a first offer on the grounds that it is only a starting point for negotiation, but this may not always be the right 
choice. While timing can be relevant when considering an offer, home sellers should be careful not to assume anything about what a buyer will do next. A reasonable offer is just that, and could simply mean that a buyer prefers to avoid lengthy negotiations in favor of a swift decision.

Home sale factors

MSN Real Estate notes sellers may be influenced by factors other than price, as well. For example, home sellers might be in a hurry to close the deal so they can purchase their own new home and move their belongings. If moving a significant distance for a school, a job or some other reason, there may be a deadline after which current homeowners cannot devote as much time to the sale. In that case, home sellers may find that accepting a slightly lower offer to expedite closing is the way to go.

When conducting a sale, it is wise to avoid telling the buyers about any such circumstances that they might perceive as leverage to lower the price. At the same time, home sellers should consult with their agent and try to understand the buyer's negotiating position. Allowing incorrect perception or miscommunication to sour a deal is unfortunate.

Reaching an agreement

When a home buyer is correctly understood, negotiating becomes much easier. If an offer is low because the interest is not serious, that may mean it is not worth trying too hard to negotiate. If home buyers fall in love with a property, however, then it may be possible to stick firmly to a price point. Alternatively, buyers may be willing to pay a higher price for help with closing costs, or some other concession.

There may be room for compromise or additional value other than the home itself. If the sellers plan to dispose of certain furniture or appliances, throwing those into the deal could be significant value for the buyers, while simultaneously allowing the seller to dispose of unwanted items.
 

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
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