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What do I need to know about negotiating when I sell my home

Q. What do I need to know about negotiating when I sell my home? 

A. Revealing too much information to buyers when you’re negotiating the sale of your home is a common, costly mistake. Here’s how to avoid it.

1. Know what you want from the sale and try to determine what your buyers want, so you will make a deal that benefits you both. A professional REALTOR® knows the questions to ask potential buyers to determine their motivations for buying and what price they can afford.

2. Don’t mention the ‘appraisal’ value of your home at a showing to try to convince a buyer to pay more for it.

3. If you’re at a showing, don’t tell the buyer why you’re selling, (especially if you need to sell quickly). Just say your housing needs have changed.

4.  Protect Yourself With A Properly Written Contract.  A contract is a legally binding agreement involving laws and regulations.  An improperly written contract could cause a sale to fall through and still cost you thousands in repairs and inspections.  Before signing, know what repairs and closing costs you are responsible for and what you are not. You also need a review of your title to see if your property is in conflict with local restrictions or laws.  A competent REALTOR® will help you understand the contract and walk you through the closing process to avoid problems.

negotiatingYou can learn more about six more costly mistakes in my Free Consumer Report called How To Avoid 7 Costly Mistakes When Selling Your Home.