Sellers Tips to Sell Your Property (3 of 3)


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16. Learn Why Your Buyer is Motivated
The better you know your buyers, the better you can use the negotiation process to your advantage. This allows you to control the pace and duration of the process. As a rule, buyers are looking to purchase the best affordable property for the least amount of money. Knowing what motivates them enables you to negotiate more effectively. For example, does your buyer need to move quickly? Armed with this information you are in a better position to bargain.

17. What the Buyer Can Really Pay
As soon as possible, try to learn the amount of mortgage the buyer is qualified to carry and how much his/her/their down payment is. If their offer is low, ask their Realtor about the buyers ability to pay what your home is worth.

18. When the Buyer Would Like to Close
Quite often, when buyers would "like" to close is when they NEED to close. Knowledge of their deadlines for completing negotionations again creates a negotiating advantage for you.

19. Never Sign a deal on Your Next Home Until You Sell Your Current Home
Beware of closing on your new home while you're still making mortgage payments on the old one or you might end up becoming a seller who is eager (or even desperate) for the first deal that comes along.

20. Moving Out Before You Sell Can Put You at a Disadvantage
It has been proven that it's more difficult to sell a home that is vacant because it becomes forlorn and looking forgotten, no longer an appealing sight. Buyers start getting the message that you have another home and are probably motivated to sell. This could cost you thousand of dollars.

21. Deadlines Create A Serious Disadvantage
Don't try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.

22. A Low Offer - Don't take it Personally
Invariably the initial offer is below what both you and the buyer knows they'll pay for your property. DON'T BE UPSET, EVALUATE THE OFFER OBJECTIVELY. Ensure it spells out the offering price, sufficient deposit, amount of down payment, mortgage amount, a closing date and any special requests. This can simply provide a staring point from which you can negotiate.

23. Turn That Low Offer Around
You can counter a low offer or end an offer that's jut under your asking price. This lets the buyer know that the first offer wasn't seen as a serious one. Now you'll be negotiationg with the buyers with serious offers.

24. Maybe the Buyer's Not Qualified
If you feel an offer is inadequate, now is the time to make sure the buyer is qualified to carry the size of mortgage the deal requires. Inquire how they arrived at their figure and suggest they compare your price to the prices of homes for sale in your neighborhood.

25. Ensure the Contract is Complete
To avoid problems, ensure tat all terms, costs and responsibilities are spelled out in the contract & purchase and sales agreement to be negotiated later. It should include such items as the date it was made, names of parties involved, address of property being sold, purchase price, where deposit monies will be held in escrow, date for loan approval, date and place of closing, type of deed, including any contingencies that remain to be settled and what personal property is included (or not) in the sale.

26. Resist Deviating From the Contract
For example, if the buyers requests a move-in prior o closing, JUST SAY NO. Tell them that you've been advised against it. Now is not the time to take any chances of the deal falling through. Seek the advice of your real estate professional AND your attorney for any changes to be made or deviations from the agreed upon contract.

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