For Sale by Owner Guide

The Final Negotiation Steps

OK, you have followed my for sale by owner guide on this web-site. You have now reached the point where you have an offer written up but....it's not quite there.

Here are a few situations you may find yourself at this time.

* You are $2,000.00 apart.

* You are a month apart on the possession or closing date.

* The buyer wants the fridge, stove, washer and dryer and you are saying no to the request.

* Everything has been agreed upon, but the buyer wants to talk to their lawyer before signing.

* The buyer has requested they be able to move some or all of their belongings into the house, before the possession date.

Let's look at each one of these scenarios and use some negotiation steps you might want to try.

$2000.00 Apart

I've used $2000.00 in this for sale by owner guide, but of course it could be any number.

If you are selling a 14 million dollar property, lets get serious. Close the deal and forget about the 2 thousand dollars!

If you are selling a house for $79,000.00, $2,000.00 can make a big difference.

Here are some negotiation steps on how to handle the close but not quite there deal.

* Split the difference 50/50.

- John and Mary, we really feel that $275,000.00 is a fair price for this house based on the appraisal. You folks seem like a really nice couple and we would really like to see you be the people to live here.

I'll tell you what, let's split the difference 50/50 and get on with our lives shall we? Offer hand to shake on deal and wait silently for acceptance.

This method, will work almost every time. It is my belief when it comes to selling a house, that you should never lose an offer to purchase over a $1000.00.

* Offer a tidbit

- John and Mary, we really need to sell at $275,000.00 but, we'd be willing to throw in our fridge and stove as part of the offer OK? Reach out to shake hand and remain silent.

- John and Mary, I'll tell you what, let's do a trade. I know you really wanted to close a month earlier than we agreed upon.

We have to stay firm on our price but, we'll let you have that closing date. Fair enough? Hold out hand...well, if you have been following this for sale by owner guide from the beginning, you know the routine. :-)

- Use your imagination. If you observed the buyers closely, you might have a good idea what they would really like as a compromise for the $2000.00

A Month Apart on Closing Date

Here's the problem. You want to close on the 30th of September because your new house will not be ready until then.

The buyer's want to close on the 31st August because they have made that agreement with their buyers.

This is another case of: Don't lose a good deal over a closing date. Here are some negotiation steps you may want to use with this for sale by owner guide.

* Ask your buyer if there is any chance that the buyer's of their house might be able to close a month later. Long shot, but you might as well ask.

* Agree to the earlier closing, have your belongings stored for a month and spend the time with relatives or at a hotel.

* Ask the buyer's if they would be willing to move the possession date to your time frame if you were willing to settle for $xxx. off the purchase price.

* If the house you are buying is a new house, call the builder, explain your situation and ask if they could help you out.

- This will probably only work if your offer to purchase is conditional on the sale of your present home.

- The builder wants to sell the new house as well and if it's sitting unsold, it's costing them money every day.

* If the house you are buying is an occupied home, call them and see if they would be willing to change their closing date.

- For sale by owner guide warning: You may have to offer an incentive to make this happen.

* Sign the offer and work out your solution later. There is always a solution in this case and at least you have your first goal met, an accepted offer to purchase.

We want the Fridge, Stove, Washer and Dryer

Again, try not to lose an offer over appliances. Again this for sale by owner guide will share a few ways you can proceed on this issue.

* Use an alternative 50/50. John and Mary, I'll tell you what. We really would like to keep all of our appliances for our next home. However.....

- We would however be willing to let you have the fridge and stove and we will keep the washer and dryer. Fair enough? Hand held out etc.

* Offer to give the buyers say $1000.00 cash at closing towards the purchase of new appliances.

- Note: This should be done as a separate agreement in writing, but not on the purchase of sale agreement for the house.

* Let them have the appliances and buy yourself new ones. You could use a portion of the money you saved not paying a real estate commission!

This one is fairly easy. First of all, the buyer is smart to request this for their protection. In this for sale by owner guide I am going to suggest you follow this script.

John and Mary, We absolutely agree. As a matter of fact, we also would like to see our solicitor before proceeding. May I just point something out to you first?

Wait for the buyer to agree, then proceed;

Do you see this clause that I have included in the Agreement to Purchase Form? Let's go over it together and I'm confident, that you will have absolutely no worries. OK?

Go over the clause with the buyer. I have written out this clause on the next page of this web-site.

If you would like a quick look now, Click Here

Did you take a peek? If you did, you can see how that protects you 100% if your lawyer finds any problems with the agreement.

Wait for answer and then pass the pen to the buyer and say OK, you need to sign right here...etc. etc..etc.

But, Why Not Let Them See Their Lawyer First?

You do want the buyer to be protected and you want yourself protected as well. The clause you will use that is on the next page of this for sale by owner guide, does just that.

When I had my for sale by owner company, I supplied the sellers a ready to use contract forms.

You want the buyer's to sign the contract before they trundle off. Buyer's get cold feet, buyer's remorse and far to much advice from friends and relatives.

By signing a contract, they feel more committed, more ownership feelings and they HAVE to come back if they want to nullify the contract or change it.

This gives you another chance to close the deal.

Every Agreement of Purchase and Sale, should have the lawyer clause already there for both the buyer and the seller.

This is the clause that when real estate agents tell you how dangerous it is handling your own paperwork, you can say with confidence; "I've got it covered." You have this for sale by owner guide!

We'd Like to Move in Before the Possession Date

This one is REALLY simple

The answer is;

NO!

Of course by now you know that you don't say it that way.

Here is what to say: John and Mary, We would love to help you with that but, if something should happen, our insurance would not cover you or us. It's far to dangerous.

I'm sure you can appreciate why we can't accommodate you on that point. Now, is there any other concerns that you have? Or, words to that effect.

Never, Never, Never let a buyer move into your house until the possession (closing date).

The only exceptions that I can think of for this for sale by owner guide would be, a rent to purchase and on rare occasions, new construction.

The First Offer is the Best Offer

There is an old saying in real estate that is almost 100% true. The first offer, is the best offer.

Work that first offer to the bitter end! Unless the buyer's are completely ridiculous, work it and work it some more.

If you would like to see any additional final negotiation steps added to this for sale by owner guide, please feel free to Contact Me , and I'll take them under consideration.

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