How to Sell My Home
Joe and Mary Receive an Offer!
How to sell my home. Joe typed these words into the search engine on his laptop and started looking at the results. Perhaps it was time for him to do a little homework, he thought.
They were both getting frustrated with the whole ordeal. The last couple Bert and Helen, had been so promising. They just didn't know how to close the sale.
If you want to follow the Joe and Mary story in a sequence of events, each page is numbered from #1 to #13 at the bottom of each page. This page is #12.
It had been two days since the showing and nothing.
Perhaps they could find some help online, by asking how to sell my home.
For a refresher on how our couple handled Bert and Helen on their 2nd viewing go to Joe and Mary's 2nd Showing
It's an Offer to Purchase!
Joe
finished opening the 5th "forum" website displayed from the how to sell
my home quest, that seemed to always end out with some Realtor ® basically telling him, that how to sell my house, was to hire a Realtor. ®
Then the phone rang.
J: Sweetie, do you want to grab that?
M: Why should I answer it! You have a phone right beside you.
Yep, things were getting a little testy in our for sale by owner household.
J: (not in his nicest tone) Hello?
Caller: Hi, this is Helen. Did I catch you at a bad time?
J: I'm sorry. I just had a bad day, that's all.
How to sell my home Tip #1 Please try to always be at your best when you answer the phone, while you are for sale by owner. Your tone and feelings, will transfer to the caller.
Helen: That's OK. Bert and I were just discussing your home and I think we would like to write up a purchase and sale agreement.
J: (trying to sound calm) That's great. And now, PLEASE read the following.
A Very Important Tip on How to Sell My House
How to sell my home Tip #2 NEVER, NEVER, NEVER and NEVER ask the other party what they are offering, when the closing date is, or what any of the terms and conditions are, over the phone. Got it? NEVER!
Fortunately, our hero was to stunned to say much of anything.
J: Would you like to come over here, or do want us to go over to your place?
How to sell my home Tip #3 You always want to meet someone making a proposal at your home, not theirs. Why? Because it gives you more control. It's your castle, and you can guide your buyer to the kitchen table.
If you are at their place you may end out in the living room, or worse, the downstairs family room. Why do you want everyone in your kitchen? To find out why, go here: Kitchen Magic
One thing was handled correctly. He didn't ask what the dollar amount was. Let's see how that conversation might have ended out, OK? Remember, the asking price is $279,900.00
J: (trying to sound calm) That's great. What are you offering?
Helen: Well, we don't want to insult you, but we were thinking $250,000.00 would be a good start.
J: Oh no. We can't sell for that. No sense wasting your time coming over Helen.
See what can happen? When it comes to how to sell my home, don't ever get involved in the details on the phone. You have one job at this time.
Get the buyer over to your home
If the buyer balks at the idea of coming over, a good offense is to say something like. "Helen, I believe it would be much better if you came over here. Just in case there is something about the house, such as what stays with the property, we can all make sure there is no misunderstanding later."
"Also Helen, if you and Bert have any questions about anything, we'll be right here to show you. OK?"
How to sell my home idea: Whatever it takes, get the buyer on your turf, not theirs.
The Big Agreement to Purchase
Joe couldn't believe it. Helen and Bert were coming over to make a bid on the home!
J: Mary! Where are you? I think we may sell our home!
M: (laughing) I'm right here you crazy fool. You ran right by me!
J: Guess what. Bert and Helen are coming over in about an hour to make an offer on our home!
M: What are they offering?
J: I don't know. I forgot to ask. Should I call them back?
Me: NO! Sorry that was just me interrupting our poor couple.
How to sell my home Tip #4 If the buyer's aren't going to arrive for some time, a good use of your time if there is two or more of you negotiating, is to discuss who is going to lead, and what your game plan might be if the proposal is:
- Good
- Fair
- Awful
- How will you handle each situation?
Joe looked at his watch. Helen and Bert had arrived right on time again.
The usual meet and greet took place and Mary let the buyer's to the kitchen asking if they would like a coffee, tea, juice, or water. She had a plate of freshly baked cookies already on the table.
There was a bit more nervous small talk and then Joe cleared his throat.
J: So, what does the contract look like?
Bert Well, we haven't put anything in writing yet, but we thought $250,000.00 would be a fair.
How to Sell My Home WARNING!
Sorry, I had to make sure you are paying attention. Here is another absolute.
No matter how low an offer is, if it's verbal, you ALWAYS use the same response. Let's pretend our for sale by owner couple have been studying this website and know just what to say. :)
J: Bert and Helen, we really appreciate your offer. If you would just get everything written up on paper, we would be happy to take a serious look.
- Does that say they will accept the offer? No.
- Does that say they are happy with the offer? No.
What it does say, is this. You gave me your low-ball offer and we didn't scream, cry, call you names and we promised we would take a serious look at it, when you put everything on paper.
Why would you do this? Because it defuses any angry and "knee jerk" reactions when the bid is low and it starts Helen and Bert thinking they are going to be the proud owners of the home. The sell my home is put into motion.
What if this Happens?
Let's back up a bit to when Joe said; "Put the offer in writing." What if????
Helen: I'm sorry, we don't have a contract form to write the offer up.
Oh! Oh! Here is another how to sell my home tip. Always have blank for sale by owner purchase agreements on hand, when selling.
Where do you find these? Simple. If you want up-to-date, lawyer written, country and state specific forms you can trust, just click on Real Estate Contract Forms.
Human nature is fascinating to watch. At least I find it that way.
Here is another angle from a Denver Realtor ®, about How to handle a Low Ball Offer.
You get Bert and Helen to write up the contract, sign the contract and then you can negotiate. Does that make sense?
Now, two choices on how to sell my home.
- If Bert and Helen brought a purchase contract with them, or better yet, Joe and Mary have copies on hand, you can have Bert and Helen write up the contract right there at the kitchen table while you sip beverages, eat cookies and bond some more.
- Drink your beverages, eat some cookies, bond some more with Bert and Helen and send them on their merry way to write up the offer, with a set time for them to return to the kitchen table, later that same day, or the next.
Which is Better?
The simple answer? I don't know. If it was me, the further the verbal offer was from the asking price, the more likely I'd send them away to write up the offer.
If it was fairly close, I'd be more inclined to have them write up the offer right there, at our kitchen table.
As an example. Our couple have a Certified Appraisal for $275,000.00. They are asking $279,900.00.
Offer of $250,000.00 - Probably have them go home to write up the offer.
Offer of $268,000.00 - Probably try to have them write the offer right away at the kitchen table.
Bert and Helen need to feel like they are becoming owners of the home. Putting the offer on paper, helps with that process. Joe and Mary did not tell them, no. Bert and Helen probably never thought they could purchase the home for $250,000.00 anyway. They just wanted to try.
Moving ahead on how to sell my home. Bert and Helen went home, wrote up the offer for $250,000.00 with a building inspection to be done, closing the end of July and they want the fridge, stove, washer and dryer included.
Moving ahead on how to sell my home. Bert and Helen went home, wrote up the offer for $250,000.00 with a building inspection to be done, closing the end of July and they want the fridge, stove, washer and dryer included.
Everyone is back at the kitchen table, fresh beverages and cookies. The next thing you want to do is go over the offer. Read it out loud with a pause here and there for effect. Perhaps a raised eyebrow, or a puzzled look, at the right moment.
J: Well Bert and Mary, we do appreciate your offer. Most everything looks good here. I see you have the subject to lawyer approval for both of us.
When it comes to how to sell my home, don't forget to always include a subject to lawyer approval on every offer. Go to Subject to Lawyer Approval Clause
J: There is just a couple things we need to discuss. We see you have written in 4 appliances to be included. Unfortunately, we will need those appliances in our new home so we will not be able to sell them with this home.
Now Joe will use an "assumption close". An assumption close, is when you take the stand that the other party is just going to agree to the change.
J: I'll just cross off that clause here and we can all initial the change, OK?
Joe then proceeds to cross the appliances off the offer, initials, passes the offer to Mary who then initials and passes it off to Helen or Bert.
How to sell my home Tip #5 If you have a couple of changes you want to make on the offer to purchase when you sell, in many cases you will want to start with the "easier" change first.
In this case, the sellers, isolated the appliances and assumed the buyers would agree to leave the appliances out of the contract. Even if you don't care if the appliances go with the home or not, you might want to take them out before discussing the price.
Why? Here are some reasons to do this:
- If the buyer's agree, you have your appliances back.
- If the buyer's are insisting that the appliances are included, you can use that to bargain later to sell for a higher price.
- If you win that battle, you have momentum on your side.
- This is the most important reason. When you are negotiating on the price later, you can re-use those appliances to close the deal.
Remember, Bert and Helen at this point, still are thinking they might purchase the property for $250,000.00. The sellers haven't said no, yet.
How to sell my home to be continued......
If you are following this story in sequence, please proceed to #13 below.For More Information about the Joe and Mary Story
#1 The Joe and Mary Story Main Page
#2 Joe and Mary Select a Sign
#3 Joe and Mary Prepare Their House to Sell
#4 Our by Owner Couple Place a Newspaper Ad
#5 Joe and Mary Go Online
#6 Our Hero's Answer Ad Calls
#7 Joe and Mary Find a Hot Buyer!
#8 Joe and Mary Decide to get an Appraisal
#9 Joe and Mary Prepare for Open House
#10 Our for Sale by Owner's do their First Open House
#11 Joe and Mary get a 2nd House Showing
#13 Joe and Mary Close the Deal!
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by Douglas F. Cameron
