|
WE HAVE AN
OFFER………..NOW WHAT?!
Guess what!
We just called you to inform you that a signed offer has been written
and he/she would like to arrange for an offer presentation as
soon as possible. Time is of the essence because a buyer can
withdraw an untimed offer anytime prior to receiving a copy
signed by the seller. Thus, to protect yourself from "buyers’
jitters" resulting in withdrawal, the offer presentation should
be done as soon as possible and every owner needs to be there
for the presentation.
ANALYZING THE
OFFER
When the
presentation is made, be aware that every offer has strengths
and weaknesses and we will spend some time to explain
the various forms and answer your questions, help you analyze
the various aspects of the offer and reach a unanimous decision.
Items to consider are: price, financing terms including possible
costs to seller, closing and possession dates, real and personal
property inclusions or exclusions, contingencies, earnest money,
buyer qualifications, overall market conditions and the time the
house has been on the market. As sellers, then, it is your
choice to:
Accept the offer as written—all
owners sign and date as required to finalize the
contract.
Reject the offer—Nothing
is signed, earnest money and unsigned offer are
returned to the buyers’ agent.
Counteroffer—If
the seller cannot accept the offer as presented,
then a counteroffer is a means of keeping the
negotiations open. Remember, however, that a
counteroffer is a rejection of the original offer
and the buyer has no obligation to accept the
counteroffer. Thus the seller does run the risk of
losing a sale. In this light, the counteroffer
should change as little as possible. Isolate those
items that are totally unacceptable to the seller
and make those the basis for the counteroffer.
Whenever possible, try to add some benefit to the
buyer (such as including some additional personal
property) to offset an increase in the price. The
seller then signs the original offer and initials
the changes. The contract will not be valid until
the buyer has also initialed all changes.
Counteroffers should be presented to the buyer as
soon as possible. A seller has the right to withdraw
a counteroffer unless that counteroffer is timed.
Thus, any delay in presenting the counteroffer could
result in a lost sale.
WIN-WIN
NEGOTIATIONS
We often think
of negotiation as a process where the person with the most
information or the most leverage wins and the other party loses.
Is there always a winner and a loser, or is that the case only
if we choose to think that way? Times seem to be changing and
Win-Win negotiation techniques are being accepted in the real
estate world, as elsewhere, with happier clients on both sides
of the table as a result. An attitude of Win-Win negotiations
that include compromise throughout the entire process is the
most positive way to achieve your selling goals and eliminate
anxiety.
MULTIPLE OFFERS
Multiple offers
are not uncommon, particularly on a new listing or a very
desirable property. There are some special considerations for
all parties when presenting more than one offer. We will want to simplify the decision
making process by outlining the pros and cons of each offer so
that you can more easily compare the terms. You can choose to accept one and reject the others, reject
all of them hoping they will all rewrite better offers or
counter one and reject the others.
Next:
GETTING READY FOR CLOSING
(SETTLEMENT) |
