Mr. Home Seller, Is This a Deal Breaker?

When negotiating a purchase contract for a home, it is important to put things in perspective.  Too often buyers and sellers reach minor impasses and lose the transaction.

     "So Mr. Seller, are you really willing to risk a $650,000 buyer over a $300.00 cleaning fee?"

My question for clients who are thinking about a counter, "Is this a deal breaker?"  If you counter, you are gambling on possibly losing the deal.  The other side can walk away.  If you sign, we are in escrow.  It is one thing if we are far apart.  If we are talking something ridiculously minor, that is something else.

If my client's answer is "yes this is a deal breaker", we counter.  If they say, "I do not want to risk this deal for that", we open escrow.

Risking a sale over something minor is just bad business.

1. The seller will be paying mortgage while they look for a new buyer.
2. The seller is not guaranteed they will find another buyer at that price and terms.
3. The real estate agent will be paying for additional marketing of the home.  With no guarantee it will sell.  If it does sell there is no guarantee at that price or the same commission level.
4. Time and money will be lost for everyone involved.

Let's assume the buyer accepts your counter offer.  Most likely you will never see the $300.  You may even lose a lot more than that.  There are several points during the escrow process where a buyer can renegotiate terms.  What do you think they will do when they get the list of minor repairs from the home inspector, that many buyers would look past?  You guessed it; they want everything fixed or a cash credit.  Either way they will get back the $300, plus more.  Please remember, you set the tone for the transaction.  You made an issue out of something small in the beginning.  Now it's their turn.

So always remember these magic words when considering a counter offer.  "Is this a deal breaker?"