The Price and Terms.
“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. Timeframes, contingencies, study periods…..these are just some things that can be presented in offers coming in on your home that we’ll help you evaluate and determine what is in line with your real estate goals.
There’s certainly an art to negotiating a real estate transaction. Combining a mix of knowledge, effective communication and persistence is crucial. An ill-equipped agent could cost you thousands.
The Initial Offer and Deposit.
A contract is a legal arrangement between a potential purchaser and the property’s seller. Laws vary from state to state, but in order to be a legally binding agreement, the agreement must be in writing and, in Virginia, requires consideration. This consideration (aka – earnest money deposit or good faith deposit) is to be held in the brokerage’s or closing agent’s escrow account pending the fulfillment of conditions or contingencies in the contract.
Some important tips to keep in mind to streamline the process even further:
- Keep written records of everything.
We will ensure that all of the necessary paperwork is in place for your sale and make sure that you have copies of everything along the way.
- Stick to the schedule.
Once you are ratified (under contract), you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process we will keep you constantly updated so you will always be prepared for the next step.