As a seller, you probably have an amount in mind that you would like the buyer to meet or exceed.
Hi I'm Judy Ballard with illustrated properties and Christie's International Luxury Marketing Specialist.
Remember no matter what your number is, the buyer needs to show proof that he will have the funds to move forward with the purchase. If the buyer intends to get a mortgage, there should be a preapproval letter included with the offer. If it is a cash offer, ask for proof of funds before accepting it.
Some things to consider negotiating if the offer I'd less than your asking price.
1. Look for a larger Ernest money deposit. The higher the deposit the stronger the offer. If the seller breaks the contract and walks away, you can potentially keep the deposit as a consolation.
2. Opt for an ideal closing date. Timing is everything, whether you want a quick closing or you need more time before moving. In that case a lower sales price may be more desirable than a full price offer if the closing date works better for you.
3. Consider fewer Contingencies
In real estate ,contingencies are benchmarks that buyers set that need to be met before the sale can close.
Many buyers will want to include an inspection contingency. If any issues are found with the home, the buyer might ask you to do the repairs before they will close on the home. With an appraisal contingency, if for some reason the home doesn't appraise for the agreed upon price, you and the buyer will have to meet a new number before closing. The cachet here is that anytime a contingency can't be satisfied , the buyer has the opportunity to walk away for the contract with Ernest money in hand.so as a seller you want to have as few contingicies as possible. So negotiating the removal of contingencies instead of a higher price may prove to be to a sellers advantage.
