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In order to reach an acceptable agreement with the most favorable terms, make sure your buyers are aware of the market and the most important factors when constructing an offer. Requests to sellers to pay closing costs. Timeliness and types of inspections. Negotiating counteroffers. Counter the counteroffer.
What is a seller concession? This refers to anything that the seller gives or grants to the buyer. Sellers are not the only ones who can grant concessions, but right now it’s in the news more due to changes this year in how we sell real estate and the forms and clauses we use to do so.
Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. The first thing you should do: call your agent, tell them the appraisal price is the highest you're willing to pay, and have them tell the seller so.
In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s history with the property) these homes may be priced at a discount. Make sure to consider the inspection process as you are making your offer. Step 7: Have the Property Inspected.
Contacting the Seller The first question a buyer must answer is whether the lot is listed for sale or not. For a property that is listed with a real estate broker, the prospective purchaser should retain an experienced buyer's real estate broker to facilitate negotiations with the seller's broker.
However, with proper preparation, the right tools , and an understanding of the market, FSBO sellers can potentially overcome these hurdles. In Texas, the Seller’s Disclosure Notice is a legally required document for most residential property sales. Consider hiring a professional appraiser for a more accurate valuation.
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