Negotiating Best Value and Terms

By definition, negotiation is a process in which the involved parties resolve matters of dispute by communicating and coming to an agreement that serves mutual interests.  Sometimes, if not handled properly, negotiation could turn to be unnecessarily combative:  Stay cool!  Go into a negotiation with a positive attitude and a desire to make things work.  Here are some tips to remember:

  • Use your agent as a buffer  between you and your buyers
  • Anticipate your buyers’ moves  and have your responses ready
  • Listen carefully to your buyers’ concerns, offer solutions
  • Do not respond emotionally – an angry response will be counterproductive
  • Do not argue – arguing is likely to drag the negotiation process off course
  • Respond within a reasonable time to questions/suggestions
  • Know when to walk away

A successful negotiation process should accomplish three goals:

  • Selling at the highest price possible
  • Resolving any repair issues fairly
  • Setting the closing to meet your timetable

As soon as the negotiation ends, your attorney will start drafting the Purchase and Sale Agreement and incorporate all that was agreed upon into a binding legal agreement.

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