Once you’ve found a potential buyer for your home, handling the negotiations for the sale without the buffer of a Realtor to act as a go between can be one of the toughest parts of selling your home.
It’s important to complete the sale, so you can’t wait to consider it. To market and sell your home, financial negotiation should be a part of the plan.
Getting an appraisal will be useful when you are pricing your home. This may be costly, but you can, a lot of times add this to the sales price. Either way it’s a good investment.
If the appraisal reveals any flaws, then correct them and keep receipts as well so that you can support a higher price if necessary. If a buyer will have to fix repairs, they will try to haggle the price.
When you price your home, you will need to set the figure at the appraised value. You may be able to set your price higher than the appraisal. In either case, make note of any features or benefits the appraisal overlooked. You could include things about the school district, landscaping, and the neighborhood.
Try to find out the buyer’s motivation. Do not share yours. You can emphasize their needs if you know their motivation.
Be prepared with your side of the argument. Practice your presentation with your partner or a friend so you’ll know how to address typical tactics. You will need to be prepared for attorneys coming over, parents and family coming over, and haggling. They will be talking about other homes and making assumptions.
Being prepared to walk away may be the hardest part. You should know how acceptable your price is and what the home is worth. You’ll need to turn down some offers. While you should be prepared for some compromise, make sure they are adjustments you can live with. It feels bad to turn down a buyer, but if they are serious, they might change their mind.
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