As a seller, getting offers and negotiating can be a tight line between getting what you want and blowing the deal up all together.
On one hand, of course you want the best deal and a deal that works for you. On the other, you appreciate offers are not flying in left right and centre anymore, so are cautious of over doing it. This is a very very very common conundrum when it comes to offers.
Out of everything in an offer, price is USUALLY the stickiest point. But there is a way to get more of what you want, without scarring of a buyer by coming back with an increased price counter offer.
First of all, look at your situation: Are you paying a mortgage on a vacant condo unit? Are you in a hurry to sell? Based on what your situation is, you can work accordingly.
Let’s say you’ve received an offer and the buyers have expressed this is their final price and they are not willing to pay any more and want to close the deal April 1.
Well if today is January 27th and you’re paying a mortgage on a vacant unit for another 2 months, that’s easily another $5,000 - $10,000 cost in total. However, countering with a closer closing date would minimize these costs and save you that money. Essentially, being the same as the buyer offering you $5,000 - $10,000 more.
Let’s say your not worried about this and you just want to sell the place as quick as possible. You could have your unit pre-inspected and your agent have the Strata Documents ready and immediately accessible. Having this be the case can reduce the need for a buyer to have the unit inspected and putting an additional subject for Strata Documentation in their offer. The pre-inspection also helps you stand out against your competition.
These methods are great ways to place a counter offer, without touching on what can sometimes be a sensitive subject of price. In our experience, we find the discussion of subjects can be a lot lighter and easier than trying to squeeze more money, especially if people are reaching their maximum amounts with lending becoming harder.
Of course we are assuming the offer is somewhat close and can be made. If you’re asking $750,000 and their offer is way below that, sometimes price is a subject which has to be addressed and we get that. In this circumstance, you will hopefully have your REALTOR backing you up with justified pricing in the means of recent sales. They can speak to the buyers REALTOR on this to make sure it is understood. Overall, the above examples are to help you get past that final little hurdle to an agreement that works for both parties!
We hope this has helped and we continue to give you real life examples that genuinely assist you in your journey. We want to hear from you still, so please reach out with what you want to hear from us in these upcoming weeks of blogs!
Until next week,
On one hand, of course you want the best deal and a deal that works for you. On the other, you appreciate offers are not flying in left right and centre anymore, so are cautious of over doing it. This is a very very very common conundrum when it comes to offers.
Out of everything in an offer, price is USUALLY the stickiest point. But there is a way to get more of what you want, without scarring of a buyer by coming back with an increased price counter offer.
First of all, look at your situation: Are you paying a mortgage on a vacant condo unit? Are you in a hurry to sell? Based on what your situation is, you can work accordingly.
Let’s say you’ve received an offer and the buyers have expressed this is their final price and they are not willing to pay any more and want to close the deal April 1.
Well if today is January 27th and you’re paying a mortgage on a vacant unit for another 2 months, that’s easily another $5,000 - $10,000 cost in total. However, countering with a closer closing date would minimize these costs and save you that money. Essentially, being the same as the buyer offering you $5,000 - $10,000 more.
Let’s say your not worried about this and you just want to sell the place as quick as possible. You could have your unit pre-inspected and your agent have the Strata Documents ready and immediately accessible. Having this be the case can reduce the need for a buyer to have the unit inspected and putting an additional subject for Strata Documentation in their offer. The pre-inspection also helps you stand out against your competition.
These methods are great ways to place a counter offer, without touching on what can sometimes be a sensitive subject of price. In our experience, we find the discussion of subjects can be a lot lighter and easier than trying to squeeze more money, especially if people are reaching their maximum amounts with lending becoming harder.
Of course we are assuming the offer is somewhat close and can be made. If you’re asking $750,000 and their offer is way below that, sometimes price is a subject which has to be addressed and we get that. In this circumstance, you will hopefully have your REALTOR backing you up with justified pricing in the means of recent sales. They can speak to the buyers REALTOR on this to make sure it is understood. Overall, the above examples are to help you get past that final little hurdle to an agreement that works for both parties!
We hope this has helped and we continue to give you real life examples that genuinely assist you in your journey. We want to hear from you still, so please reach out with what you want to hear from us in these upcoming weeks of blogs!
Until next week,
Mcinnes Marketing Out!
Jay Mcinnes
T: 604.771.4606
jay@mcinnesmarketing.com
Ben Robinson
T: 604.353.8523
ben@mcinnesmarketing.com