Buying/Selling A Home – Don’t Give Up More Than You Have To!
*Whether you’re on the buying side “or” selling side of the transaction – you never want to give up more than you have to.
After your intense search for the for the perfect home, it finally happens. You finally get your offer accepted, and you strike a deal on the perfect home. Of course, it wasn’t easy as it most likely took some intense negotiations and you probably had to beat out other hopeful buyers. But you finally did it, and you and the seller have come to terms.
But not so fast – get ready for round two. Just when you thought negotiations were over, it is time for another round of negotiations. Most buyers quickly find out that after signing the purchase contract and putting your money into escrow – negotiations are not finished quite yet.
Here are a few things buyers and sellers should be prepared for when it comes to buying “or” selling a home.
One of the first things after the purchase contract is signed – the buyer schedules a home inspection as per the purchase contract. And depending on the outcome of the home inspection – buyers may ask for repairs or credits from the seller.
The property inspection is an essential part of the home buying process. Property inspections can bring to light things and problems about the property that the buyer couldn’t possibly have known about as they signed on the dotted line. Only after the inspection, the buyer will know whether or not they want to move forward as agreed in the purchase contract “or” if they need to sit down with the seller to re-negotiate the deal.
One way for a seller to avoid such negotiations – sellers should consider having a property inspection before listing and provide the inspection report to all potential buyers. Sellers should keep in mind that the goal is to avoid negotiations once under contract because they usually don’t favor the seller.
By providing a home inspection report to all buyers, the seller can address all potential issues before the buyer and seller sign the purchase contract. The goal is for the buyer to come up with their best offer up front as they understand what they’re buying. And the goal is for the seller to avoid any and all negotiations once the purchase contract is signed by both parties.
Dave Matthews Band - So Much to Say