Before you start receiving offers on your property you will want to make sure you have a real estate lawyer that you trust at the ready since real estate sales contracts often contain language that can be difficult to understand for novice home sellers.
It is imperative that you retain the services of a competent real estate lawyer. Do not be fooled by any lawyer offering to review your documents for free. This is going to be one of the most important business transactions of your life. Rest assured that the buyer will have a lawyer who is looking out for their best interests and trying to save them money when drafting the offer contracts.
Arm Yourself With Knowledge
It is also in your best interest to get familiar with common language that appears in real estate contracts regarding conditions, deposits, adjustments and closing dates. You want to feel in control and confident during the negotiation process and this means making sure you have educated yourself as much as is reasonably possible.
Knowledge coupled with a good real estate lawyer are the two best weapons you can have during the sales process.
Accept, Reject or Counter
If you have followed the guidelines in the first step of the process regarding setting the proper sales price for your property the negotiation should end with a reasonable offer from the buyer that is close to your asking price.
Review all offers that are made. Any offer can be accepted, rejected or countered. You can choose how to respond but do not accept any offer you are not comfortable with. Again, this is where a lawyer becomes invaluable. Remember, this is a business deal where you should be focused on the bottom line. Do not get emotional!
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