The Home Selling Process - Step 6: Negotiating & Counter Offers
Perhaps the price was lower than you were expecting. Maybe the buyers have asked for some extra inclusions. In some cases, you may have multiple offers from different buyers to entertain. This is one stage where you’ll be glad to have a Royal LePage agent by your side to help. Here are some things to consider now:
• Counter offers – take a good look at what the buyer is asking for, then ask yourself, “Is it worth losing a sale for a minor inclusion like a rug or drapery?” Maybe not. So, the best strategy is to have one. Know ahead of time what you’re willing to compromise on and, as far as price goes, how much. Finally, if you feel you’re not going to be able to come to terms, don’t be afraid to reject the offer
• Multiple offers – you may be in the situation where you receive offers from several buyers. Now, you have the opportunity to compare and decide which offer, based on price and conditions best suits you. Things that could make one offer more attractive than the other are pre-approved financing, the buyer has already sold their existing home or they’ve agreed to all conditions of sale without exception. One thing to keep in mind though is that patience and respect are paramount. Your Royal LePage agent will certainly provide sound advice in this scenario to arrive at the best outcome for you and the fairest to all parties
Now, even though you have a signed the Offer to Purchase, it’s not quite done yet.