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Negotiating to Sell
When you are presented with an offer you have 3 choices that you can make. You can:
  • reject it,
  • accept it as offered, or
  • make the buyer a counter offer.
During the negotiation, you should give the buyer time to present an offer without interruption. While the buyer prepares an offer make notes about issues you may need to raise.

Things to consider
Often the first bid is the highest. If you have been made an offer and it meets the market price you should consider accepting and seek advice.

Negotiation is the cement that binds a contract. If you find some of the terms and conditions put to you unacceptable, or if the offer falls too short of your asking price you will have to negotiate.

Don't waste time!
Know your price! Be clear on what your terms and conditions are and have a timetable in place. It is essential that you know where you stand on these issues. If you are a joint owner be sure to have a clear understanding as to where your partners stand. In this case, one person should be appointed the contact and the agent should be instructed to discuss all offers and any other information about the sale with that person only.

Make sure all offers are written up
Contracts and the attached offers can go back and forth between buyers and sellers or their representatives many times. Therefore it is essential that everything is written down as the parties negotiate. Make sure you keep all the original documents.

Contingency clauses
Regularly buyers make offers that are contingent upon other factors. For example, a buyer may make an offer that is subject to finance or subject to a pre settlement inspection by an organisation like Archicentre. Another common contingency is that the offer is made subject to the sale of the buyers home. When the buyer wants to insert clauses such as these it is most important that time limits are placed on them. A "subject to finance" clause could have a 5-day time limit.

Don't be afraid to ask
Negotiating can be stressful, especially for those who do not have much experience in selling property. Seller Solutions are here to help you and will advise you on how best to handle the negotiation process. Seller Solutions can also help you calculate how much you will net from an offer and determine the creditworthiness of a buyer. All buyers should be pre-qualified.




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