All Contract Terms Are Negotiable Until Final Signatures
For the most part, there are only a few key items that Warren County home buyers and sellers tend to worry about when negotiating a home:
Price, price, price being the first few!
Closing date and occupancy dates can be another.
And personal property conveying is also another component of the deal that can cause some conflict.
Rarely does a purchase offer come back just signed as ACCEPTED. Most likely, there will be a counter from the sellers changing a few items. And MOST likely the buyers response will only involve changes to the changed items. The items that were accepted don't get touched.
But here's the scoop: EVERYTHING in the contract is subject to change until the final set of initials and signatures on the contract. If one item in a contract becomes a deal breaker (e.g. occupancy date), is there another term in the contract that can be changed to compensate?
Sellers with a vacant home wanting to close faster, but the buyer can't? Propose a higher price to cover your carrying costs.
Buyer wants a radon mitigation system that the seller won't provide? Maybe a $1,000 adjustment in price will even things out.
And you may think, but we already AGREED on price, so we can't change it! But yes you can. It's offer, counteroffer, counter to the counter to the counter.....until we get to agreement. ALL terms are on the table until we arrive at a mutual agreement, or determine that we can't get to agreement and negotiations are over.
So don't let one term kill a contract if there's something else that can be done to get to mutual agreement. At least try, you'll be no worse for the effort and we just may be able to get an accepted contract with the new terms.
Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz