Negotiating
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Negotiating

 

Consider your potential buyer

What is the motivation for purchase from the buyer, is it for investment in which case they may well be considering other options, is it a more emotional purchase for an end user. Is their offer a considered one or are they just taking a chance? Can they fulfill other criteria such as purchase conditions and time scale for completion, what else is included? Could these items be negotiated?

Avoid getting emotional

Don’t be offended if the offer is too low. It is your agent’s obligation to submit any offer received. You can always reject it. Consider all items, terms and conditions of the offer before taking any decision. Make the best possible counter offer. Avoid arguing over unimportant issues and particularly over fixtures and attached elements, which normally are included in the sale. Be flexible if you have to compromise on time frame to accommodate the buyer’s wishes to move into the property.

Manage expectations

It is essential that you communicate clearly throughout the negotiation process, set a time scale for replies to offers and ensure all terms are layed out clearly from outset.

Decision time

Ensure you are completely satisfied before agreeing a deal. Do not make a rushed or pressured decision.

Facilitate the sale

If you are based overseas then leave a power of attorney with your lawyer enabling him or her to sign a private contract on your written instructions. In this day and age any negotiation can be conducted and agreed by telephone and e-mail. Once a deal has been agreed the last thing you want to do is delay proceedings. It may have a negative impact on the negotiation itself if having reached an agreement one party cannot complete in the desired timescale. 

Simplify the hand over

If you have services and utilities connected, make the agent aware. You have experience in handling and maintaining your home and the new owners will certainly appreciate any information or advice you may give them. It will make their life easier when they move in and help them to settle down smoothly in their new home.