To-Do List for Negotiating an Offer
Check These Items off Your Checklist
and Cash In that Check
In negotiations, the buyer initiates the process by making an offer on your home, but you, as the seller, set the tone. Never lose sight of your goals, always keep calm and keep your focus on the facts, such as the research that was done for your price. Keep these items on your to-do list as you move forward.
Request a copy
Request a copy of the lender’s prequalification letter when you receive an offer. Proof of funds should be requested if the offer is in cash.
respond within a few hours
It is recommended that you respond within 24 to 72 hours to the buyer.
negotiating in person
Consider negotiating in person if you can. You may want to pay attention to the body language of the buyer.
provide data or an appraisal
Get the buyers’ perspective on how the price was determined. Provide data or an appraisal of your own when you counter.
Important to respond
It is important to respond to every element of the offer, even if only negotiating price.
keep an eye on the contracts
Keep an eye on the contract’s dates. Loan commitments usually take 30 days. There is usually a week between a buyer’s request for a home inspection and the buyer’s response.
All disclosures and contract
All disclosures and contract language should be reviewed by your real estate attorney.