|
|
Negotiating offers
Negotiate the Best Terms Possible
|
After many discussions, your RE/MAX agent will know the minimum conditions,
acceptable closing dates, and lowest price you'll accept from a potential
purchaser. Make certain that your agent also has some leveraging power with
chattel you're willing to agree to in the offer.
By knowing your parameters, your agent can work with the potential
purchaser's agent to create an offer that will be acceptable to you. After
all, it comes down to bargaining and persuasion, and your RE/MAX agent is
one of the top in this field.
|
The Offer from the Seller's Viewpoint
Interested buyers will submit an offer to your real estate agent through
their agent. Your agent will take you through the offer to ensure that you
understand all aspects of it. Before you accept or sign back the offer, you
may wish to take the offer to a lawyer and make certain that ever detail is
legally accurate and in your best interest.
Your offer will contain:
- The names of the potential purchaser.
- Your name.
- A description of the property.
- The conditions they wish to attach to the purchase:
- price
- closing date
- chattels
- survey
- home inspection
- An irrevocable date (you have until this date to accept, or sign back a
counter offer).
- It may also contain mortgage details (for instance, the purchaser may wish
to assume your mortgage or may wish you to discharge it).
Very often, the first thing vendors look at is the offer's purchase price.
Remember that it is not all yours. You'll have to pay your:
- lawyer
- real estate agent
- bank (for the balance of your mortgage and for any prepayment or discharge
penalties)
- taxes (if there are any outstanding)
On the bright side, you'll probably have pre-paid a number of things like
utilities, and taxes, so you'll be getting additional funds as well.
Your Lawyer
Here's what your lawyer will do to assist you in making the sale of your home hassle-free:
- Do a complete review of the purchase agreement.
- Provide answers to the purchaser's lawyer regarding title.
- Prepare transfer of title documents.
- Review any mortgage transactions.
- Close the transaction.
- Pay the appropriate commissions.
- Pay any outstanding claims against your property.
- Pay off your mortgage (if necessary).
- Forward the balance of the money from the sale to you.
- Provide a complete statement reporting all transactions
Evaluating the Offer
Before the first offer even comes in, you should have in mind, how low
you'll go on price, what conditions you'll accept and what terms would be
agreeable. Then, when an offer comes in, you have a set of criteria by which
to evaluate it.
Scrutinize all of the details, chattels, closing date, conditions, address
and description of your property, provisions and deposit.
You and your agent will thoroughly go over every detail. If there's anything
you don't understand, ask!
Accepting the Offer
Once you're satisfied that offer has met your criteria, you'll want to
accept it. To ensure that your purchaser won't get cold feet, you'll want a
deposit. The deposit will be held by your RE/MAX agent and when the deal is
closed it will be applied to the commission owed.
Negotiating offers
Negotiate the Best Terms Possible
|
After many discussions, your RE/MAX agent will know the minimum conditions,
acceptable closing dates, and lowest price you'll accept from a potential
purchaser. Make certain that your agent also has some leveraging power with
chattel you're willing to agree to in the offer.
By knowing your parameters, your agent can work with the potential
purchaser's agent to create an offer that will be acceptable to you. After
all, it comes down to bargaining and persuasion, and your RE/MAX agent is
one of the top in this field.
|
The Offer from the Seller's Viewpoint
Interested buyers will submit an offer to your real estate agent through
their agent. Your agent will take you through the offer to ensure that you
understand all aspects of it. Before you accept or sign back the offer, you
may wish to take the offer to a lawyer and make certain that ever detail is
legally accurate and in your best interest.
Your offer will contain:
- The names of the potential purchaser.
- Your name.
- A description of the property.
- The conditions they wish to attach to the purchase:
- price
- closing date
- chattels
- survey
- home inspection
- An irrevocable date (you have until this date to accept, or sign back a
counter offer).
- It may also contain mortgage details (for instance, the purchaser may wish
to assume your mortgage or may wish you to discharge it).
Very often, the first thing vendors look at is the offer's purchase price.
Remember that it is not all yours. You'll have to pay your:
- lawyer
- real estate agent
- bank (for the balance of your mortgage and for any prepayment or discharge
penalties)
- taxes (if there are any outstanding)
On the bright side, you'll probably have pre-paid a number of things like
utilities, and taxes, so you'll be getting additional funds as well.
Your Lawyer
Here's what your lawyer will do to assist you in making the sale of your home hassle-free:
- Do a complete review of the purchase agreement.
- Provide answers to the purchaser's lawyer regarding title.
- Prepare transfer of title documents.
- Review any mortgage transactions.
- Close the transaction.
- Pay the appropriate commissions.
- Pay any outstanding claims against your property.
- Pay off your mortgage (if necessary).
- Forward the balance of the money from the sale to you.
- Provide a complete statement reporting all transactions
Evaluating the Offer
Before the first offer even comes in, you should have in mind, how low
you'll go on price, what conditions you'll accept and what terms would be
agreeable. Then, when an offer comes in, you have a set of criteria by which
to evaluate it.
Scrutinize all of the details, chattels, closing date, conditions, address
and description of your property, provisions and deposit.
You and your agent will thoroughly go over every detail. If there's anything
you don't understand, ask!
Accepting the Offer
Once you're satisfied that offer has met your criteria, you'll want to
accept it. To ensure that your purchaser won't get cold feet, you'll want a
deposit. The deposit will be held by your RE/MAX agent and when the deal is
closed it will be applied to the commission owed.
|
|
|
|