It’s hard work getting your home ready to “Hit the Market”! You made sure it’s priced realistically for the market with the help of your REALTOR. Let the Showings Begin …
With the following strategy in place, especially with the limited housing inventory levels in Hernando County and in nearby areas, you’ll be able to determine the strengths and weaknesses of any offer so that you don’t let a GREAT OFFER get away!
Understanding how it works – Any of the terms or conditions of any offer ARE negotiable. Therefore, when you receive an offer, remember that you have a clear-cut choice of ONLY 3 OPTIONS: You can Accept it … You can Reject it … OR … You can Counter it with terms that would be more acceptable to you. That’s when good negotiation skills come into play!
Set some baseline parameters – In advance, it is a very good idea to decide what specific terms or conditions are most important to you. For example, if pricing is of utmost importance, you might decide to be more flexible with the closing date. Conversely, if timing is critical, you might want to be flexible with pricing.
Don’t take offers personally – REMEMBER – Selling a home is a business transaction! If a buyer complains about the kitchen or baths not being updated to justify their offer, DON’T BE OFFENDED! The buyer is obviously interested and is probably testing the waters as part of their negotiation strategy. SELLERS need to keep their emotions “in check” and not undermine negotiations.
Review every term & condition – Carefully review all the terms and conditions of the offer and look to your REALTOR for their professional guidance. Some of the terms and conditions of an offer include, but are not limited to: price, earnest money deposit, financing, closing date, inspection period, seller concessions, appraisal contingency, home-sale contingency, etc. Keep in mind that “negotiation is compromise” and the goal between both parties is to achieve a closed sale.
Be creative and think outside the box – If you are presented with an offer with unacceptable terms, work with your REALTOR to zone-in on AND consider what is also important to the BUYER to help move even closer to a “meeting of the minds”. Both parties in a transaction have the same goal – BUYER wants to BUY and SELLER wants to SELL. The most important piece of advice when negotiating ANY offer on a home is to remain open-minded and flexible!
We hope you found this post to be helpful, informative and interesting … Stay informed by checking out our local Hernando County Market Conditions on a regular basis … Watch for our next BLOG POST on November 2nd.
Thinking of buying or selling a home in the Spring Hill, Brooksville, Weeki Wachee and Hernando Beach areas of Hernando County, Florida? Visit us TODAY at www.GailSellsFloridaHomes.com to explore our state-of-the-art, MLS Map Search Feature. We make it easy for BUYERS to SEARCH MLS listings and for SELLERS to SEE what their competition is doing!
Until then… it’s all about YOU!