When you are selling your home it can feel very difficult to speak up or discuss the details of selling your home from a place of confidence. Many people do not sell multiple homes over their lifetimes, and therefore the process can seem very different and confusing no matter how many times you are faced with the challenge of selling your home and moving into a new one. Here are a few negotiating tips for home sellers to help you know what questions to ask (of a realtor and potential home buyers), when to stand up for yourself, and when to accept the offers being laid on the table.
First of all it will be helpful to familiarize yourself with the home selling process as much as you possibly can. If you are working with a good realtor whom you trust this becomes much easier; however, it is entirely possibly to attain a level of competency regarding the sale of your home if you are going at the selling process by yourself. Understand the process of selling your home- the necessary paperwork, the closing costs, and any other fees that a buyer may need to pay.
Rehearse logical answers to any questions potential buyers may have. If a buyer is negotiating particularly hard on the asking price and you do not want to lower it, calmly explain why the price is what it is based on the market, similar properties in your neighborhood, and the quality of your home and the unique amenities it provides. Keep in mind the position of the buyer; they are often just as confused about the home buying process as you are about selling your home!
Keep on top of every interaction, potential buyer interest and create reasonable deadlines that you will stick to. Make sure the potential buyers are kept informed of these dates you have set regarding final buying decisions, financial payments, and closing costs. If the buyer is unable to meet those deadlines, consider the situation they are in but also consider moving onto a buyer who is more serious about purchasing your home.
If a buyer notices any home improvements that need to be made consider lowering the price by the amount of those costs. These might be improvements you have been meaning to do or ones that hadn’t been called to your attention until the buyer mentioned it. At any rate, take these into consideration with your final selling price!
No matter what, hold the goals you have for selling your house and your sanity in high regard. You don’t want to lose your mind over the sale of your home! Remember to be courteous towards buyers, negotiate when appropriate and compromise if necessary. Selling your home is a two way street; you may not be able to get your asking price, but you will likely be able to get close to that goal. In the end you will sell your home to a good buyer and hopefully learn something from the selling process.