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.

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