Concluding The Sale
So you have tried your best to prepare and present your property. Now you will require a buyer that is interested in your home who will discuss the property with you.
How successful are you in concluding the sale will depend on the negotiations that you make with the potential buyer.
Work with interested buyers
This is said easily but not done easily because you will find that most sellers will be wasting their time and effort to show their properties to those who simply want to look and not buy. These lookers will appear and sound to be interested in your property by asking you questions, negotiating and making empty promises but in the end you will find they simply wasted your time. These people do this because they have nothing better to do.
*IMPORTANT- You can reduce the problems by employing virtual tours. This will also reduce the pressure of screening and entertaining potential buyers. Real agents would be able to distinguish between lookers of properties and authentic or real buyers of properties.
Consider the Offer
If a person is serious to buy then he will offer a certain amount of money on your house. In case you are interested in the offer then you can put forward a counter offer or make a compromise regarding the cost. After this, a lot of paperwork will be required such as contingencies, terms and conditions, deposit, sale and purchase agreement, etc. You need to think of a number of things prior to the conclusion of sale. One significant feature will be to get an approval from the bank for your home loan. Factors like these will help you speed up the process instead of causing you pressure and expenditures.
Assess your alternatives
It is not necessary for you to accept all the offers you receive. You can accept it for a short period of time or reject it right on spot if you do not like the terms and offer. Make sure you assess the offer first and think of the consequences prior to giving your approval.
*BEWARE- It may be a little risky to assess the offer and options at first but the again permitting some flexibility in your decision is also recommended because you never know when or how the market will change. Each and every one of use would like to get the best deal but if you find a great offer then you should catch hold of it before it slips from your fingers. The reason is that a change in the market can lead to a change in its market value. If you don’t accept it then you will be at loss.
Communicate with the buyer
Interaction with the buyer is important as it will determine how the deal will turn out to be. Try to object the arguments of the buyer regarding the price and conditions. Your decision should be flexible but firm. Hear the buyer properly in order to find out what they want and how you can get the best deal.
Make a counter offer properly
When you make a counter offer, you will get the price you are expecting or a lower price than before. If the buyer does not like your counter offer then they would close the deal without any reason. It is recommended that you talk to the buyers openly to find out their interest and motives. Both the parties have to compromise a little to settle on a deal. If that does not happen then there won’t be any sale.
Make a wide-ranging inventory list
Make sure that you are precise about the conditions and details included in the purchase of the property. You should state whether the permanent fixtures are included in the selling price and who will bear the expenditures of having them removed. Be very precise and detailed in order to prevent any misunderstandings from taking place about the property in the future.
Act fast when the opportunity presents itself
Just like in any situation, it is always better to be ready in advance. So if you have finished all important research on the property then are prepared for the negotiations. You can do these easily and complete the deal without any confusion or argument.
Beware of post-handshake dissonance
Now if you have negotiated with the potential buyer then make sure that you do not delay the signing of the deal. At present, computers are common everywhere so you can simply print out a contract to conclude your deal. If you do this then the buyers will not be able to get away without closing the deal just in case their relatives recommended some property in some other location or a property that is cheaper.
