FSBO Successful Negotiations

Very few offers are accepted as written.  Purchase contracts usually need to be negotiated and diplomacy is essential in order to keep things moving in a forward direction. 

While the bottom line (price minus seller expenses) always seems the most important element; the remaining ingredients in the contract need a thorough examination also.

• Is the buyer pre-approved with a local lender?
• What personal property is included in the contract?
• When is closing date and how soon must you give possession?
• Are inspections included and what will they include?
• What are the terms of financing as presented and will they impact the net proceeds?
• What earnest monies are being given, who holds them and what happens to them in case of a dispute?
• How are the taxes to be prorated?
• What additional contingencies need to be met?
• Are the buyers present when the home is sold?
• What areas are important and non-negotiable to the buyer?
• Will you have to make any repairs?

These are standard questions and probably only a few that need to be addressed and put in writing.

Every transaction is different and every transaction comes with its own set of questions and concerns that need to be carefully considered, negotiated and reduced to writing. Give and take is necessary ... compromise is essential.