Selling a property can be a challenge at the best of times, and should you have more than one potential buyer, it can be difficult to know which offer to accept. Here are a few tips to help you make the right decisions when selling your house.
- Understand the Process – All offers are completely negotiable, and you can accept, reject, or even ask that the terms be modified. If you are new to real estate selling, your conveyancing lawyer can offer good advice, as he is very experienced in property transactions, plus he knows the market inside out.
- Define your Baseline – You can decide in advance what your final terms will be, which might be not to negotiate the price, yet be flexible with the dates, or you might insist on mortgage preapproval. Deciding in advance will make it easier to peruse offers when they come in, as you already know how far you are prepared to compromise. There are some guides on how to choose the best buyer for your property, which is recommended reading for all.
- Source a Good Conveyancing Lawyer – This is essential, and for those in Australia, you can’t do any better than https://www.rivercityconveyancing.com.au/, one of the country’s leading conveyancing firms that can help you with the sale of your property.
- Don’t Take Things Personally – It might be that a potential buyer tells you that your kitchen is terrible, or that the exterior needs a lot of work, and don’t take things like this to heart. The buyer is merely trying to negotiate a lower price, so don’t let emotion cloud your judgement, and try to remain objective, after all, they might have a point.
- Review Every Offer – Look at offers carefully, and take note of the amount of deposit the buyer is prepared to pay up front, while also looking at whether or not they have finance preapproval. A buyer might sound convincing and seem very genuine, yet if they can’t get a home loan, you have wasted your time, so make sure that the person making the offer can actually go ahead with the purchase.
- Be Flexible – It can be difficult to agree on the terms and conditions of a real estate deal, and what might seem like a no-go, could actually work for both parties, with a little give and take on both sides. Try to establish what is more important to the buyer; it might be the down payment, or perhaps the fixtures and fittings that you are prepared to leave behind, and once you know that interests the buyer the most, you can make the right concessions to close the deal.
You need to have a clear head and above all, do not let emotion cloud your judgement. Some people are very good at negotiating, while others are a little green in that area, and by examining each offer with an open mind, and taking the advice of your conveyancing lawyer, you will hopefully find a buyer quickly.
March 26, 2019
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