How to negotiate a real estate contract

Reblogger
Managing Real Estate Broker with Compass Realty Solutions 990300265

Buyers have all kinds of ideas about what the offer should be and how they should go about it.  When I talk to buyers about what the gross amount will be to the seller, it is a very difficult concept for them to understand as they automatically assume that I am working for the seller, which I am definitely not.  Bank owned properties and short sales always work on net (after closing costs and commissions are figured in) and this is a definite leg up when working through the proceeds, each party knows what the bottom line will be and can make an informed decision.  It is called win win for a reason and I really believe that this is the best outcome for all parties.

Original content by Juli Vosmik SA582226000

     Mid October, I received a text from a previous client asking me to work with her brother who was relocating from the Chicago area to Phoenix.  I immediately called her brother, spoke in depth with him about his motivation, time frame and where he was in his home search.  I was delighted to find he had already done the most important step - BEEN FULLY PRE-APPROVED for his mortgage.  He knew that pre-approvals are just about mandatory with real estate contracts in our hot Phoenix real estate market (not just the temperatures.)  Then, he told me he had already identified three or four subdivisions which met with his commuting time lines and in his price point.  

How to negotiate a real estate contract

      After viewing some homes with him, he was able to narrow his want list down to three houses and we went for second looks.  Then, a third look on the one on which he wanted to put in a contract.  Here's where the negotiation started AND got so EASY:

 

       My Phoenix home buyer actually would calculate not only what his percentage of negotiated price would be but also what the net effect to the seller would be.  He actually saw BOTH sides of the contract process - his desired price and the end result to the seller.  He knew it was a two way negotiation and can't be all one sided.  He was reasonable and responsible and didn't ask for the moon.  

 

      We did get into a bidding war, typical in our hot Phoenix real estate market, but because of his common sense/two sided approach, his contract was accepted and we happily closed just 45 days later.  

 

     If you're negotiating a real estate contract, try to do has he did - put the seller's side in your mind as well as your side.  Then, meet middle of the road.  It worked for this Phoenix homeowner!!!!  Thank you, James, for a very pleasant and realistic transaction and here's to many wonderful years in your new home. 

 

    If you're looking to purchase a home in Scottsdale, Cave Creek or north Phoenix, please call me - I'll help you from start to finish including realistic negotiations to help YOU achieve homeownership. 

 

Juli Vosmik

Dominion Real Estate Partners, LLC

480-710-0739

 

 Scottsdale and Cave Creek Real Estate

 

 

Helping you make informed decisions whether buying or selling homes in Scottsdale, Cave Creek and north Phoenix Arizona.  I know the area - I live here.

 

A portion of all sales is donated to the various animal rescue and humane societies.

 

AZ license SA582226000

 

 

 

 

Comments (2)

Trumps Elite
Keller Williams Realty Acadiana - Lafayette, LA
Realtors/Career Consultant

Win win is alway my philosophy. If everyone feels warm and fuzzy about it then it's sure to happen!

Jan 25, 2015 10:56 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is a good re-blog selection.

I hope you are enjoying a very productive month.

Feb 18, 2015 06:46 AM