Larry Edgar - Sutton Sales Representative - Information for Sellers

NEGOTIATING THE PRICE

Negotiating the final price in the sale of a home involves both the buyer and the seller. When you receive one or more offers to purchase your home, considerable time and attention should be given to each offer. As your REALTOR^@, I will assist you in understanding the terms and conditions contained in the offer, and will provide you with any advice you request, but ultimately the decision is yours.

As the seller you have 3 possible responses to an offer:

• Accept the offer as received
  Be sure you understand the exact meaning of each term in the written offer before you sign the document.

  Many offers may be "conditional" which means that the buyer has placed a clause in their offer to purchase that sets out a specific condition that must be fulfilled before the sale can go through, such as the sale being conditional on approved financing, or upon receipt of a satisfactory property inspection. If you accept a conditional offer, you are effectively taking your property off the market for the period in which the buyers are attempting to meet the condition they have set. By including a time clause, if any of the conditions cannot by the set deadline, the contract ends and there is no legal obligation to complete the purchase or sale.
  
  

• Propose a Counter-offer
  If you are not satisfied with the original offer, you can reject that offer and propose a new offer (counter-offer) to the buyer. The risk is that the buyer may have changed their mind and rejects the counter-offer. There is no option for the seller to accept the original offer at this point.

  The potential benefit is that the buyer may decide to make another counter-offer back. This process of counter-offers continues until an agreement is reached, or the counter offer is rejected by either party.
  
  

• Reject the offer
  You are not obligated to accept any offer or to make a counter-offer. You may choose to reject an offer and wait for another potential buyer.

As an experienced REALTOR^@, I will work to sell your home quickly and at the best price possible!

BACK TO MAIN SELLER PAGE