Real estate contract negotiations need be "kept on track" to move forward. The goal of both the listing agent and selling agent is twofold
- Guide the transaction to settlement and meet the objectives of both the seller and buyer on a timely basis.
- Earn the brokerage fee that the seller agreed to pay.
As an experienced real estate agent I learned the techniques to a successful transaction many years ago.
Six Real Estate Contract Situations That Need to Be Avoided
Problems Don't Solve Themselvess
It is not unusual for situations to develop that could hinder or derail the real estate contract settlement. It is important for both agents to communicate and "work" the matter on a timely basis. It is equally for the buyer and/or seller to take whatever action is necessary by them to assist in the resolution. This will help move the transaction forward.
Surprises Are Not Recommended
In the Commonwealth of Virginia a real estate contract must be in writing to be enforceable. The term "the contract speaks for o\itself" means just that. If it is not in the contract it is not a point of contention. You and your agent must make certain they include all matters of importance to you are included in the document. Similarly, the homeowner's agent has to be equally certain that any counter proposal items are inwriting in the real estate contract.
Don't Blame Everything On The Lender
The lender did not sign the real estate contract and is not a party to its' provisions. They are subject to both federal and state regulations that may not be allowed in either the purchaser's offer or seller's counter offer. An experienced real estate agent will know which contractual items will not be accepted by the lender.
Facts Should Be Factual
Whether it is the initial purchase offer price or the counter offer price you should be able to support the position with hard, indisputable statistics. The same is true of any repair cost estimates if they are part of the real estate contract.
Your Ego Is Not Your Friend
If you as the buyer or seller dig in your heels and refuse to respect the other party's position you may not be ready to buy or sell a home
Don't Ask The Other Guy To Call You
Direct negotiation between buyer and seller can be very harmful to the future of a real estate contract. You hired a professional to represent you - that's the way it should proceed to keep your contract "chugging along on track"
To Make The Most Of Your Real Estate Contract ExperienceHire An Agent With Experience
The Kruschkas are long-term Prince William County residents with more than 30 years experience as real estate professionals serving Woodbridge, Manassas, Dumfries, Manassas Park, Bristow, Brentsville, Gainesville and Haymarket
Our Experience Isn’t Expensive – It’s PRICELESS
If you plan to buy or sell a home or property contact Karen and Art by Email or call us at 703-499-9279. Put our record of customer service, real estate experience and state-of-the-art technology to work for you