What you need to know about negotiating

A good offer is more than a price. A seller may care about when they can move. A buyer may need help with closing costs. Knowing what each side needs can make a conversation productive.

Start with comparable sales, competing listings and the condition of the property. An asking price tells you what the seller wants. It does not establish what the home is worth.

Compare the entire offer: financing, contingencies, earnest money, requested credits, included items and closing date. Ask your agent to explain what each term would mean in your situation.

After an inspection, separate major concerns from small maintenance items. Get professional estimates where possible. A documented repair request is easier to evaluate than a round number with no explanation.

If you need seller credits, have your lender confirm what your loan allows before relying on them. Credits and financing terms must work together.

Know the payment or net proceeds you can accept before negotiations begin. Decide what you can compromise on and what would make you walk away.

Keep agreements in the written contract and follow its deadlines. Triad Realty Group can help you compare terms and prepare your next response. Missouri / Illinois: 314-272-0680. Georgia: 404-410-6260.