Enter the negotiations with patience and an open mind
Many people tend to look at negotiations as a conflict between two sides, when in fact, it’s quite the opposite. You should instead see it as two sides trying to solve a puzzle. Both are trying to find out if the lowest amount one side is willing to offer is compatible with the highest amount the other side is asking for, and try to meet somewhere in the middle where everyone is happy.
Don’t rush to send and answer an offer. A mistake we’ve seen many do over and over again is rushing to respond to an offer, thinking that doing it later would be too late. But, the better thing to do is go through it carefully and analyze the content in it. What does the offer mean? What is the other party trying to get? Sometimes, sleeping on it can make a huge difference and get you a different, better perspective on the whole negotiation. selling a home in Fort Lauderdale
Brief Explanation Of The Negotiation Process
After you finish the negotiations, the next step would be sending an offer to the seller. Once you do this, they can respond to it in three ways:
Counter the offer: When a counteroffer is received, the seller agrees/doesn’t agree with the offer partially and suggests an option they feel is better. You can then decide if you will accept the counteroffer, decline it, or counter it back again.
Accept the offer: If an agreement is reached, all parties review the contract’s terms and sign it off. After this, the pending period starts, during which other buyers can’t compete with your agreement until the Condition Day has expired.
Decline the offer: No deposits are needed, and you can go to the next property to find yourself a better deal!
Once you’ve started the home buying process, let time do its thing. Time is power, and stepping back to allow yourself to make the right decision will take away the pressure the other party might try to put on you and ultimately result in you making a better, more rational decision. In fact, if you’ve ever been through car negotiations, you might’ve noticed that the salesperson often leaves your side and comes back, later on, to ask about your decision.