How FSBOs Lose Out on Negotiation

 


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Selling your home on your own is not easy and arriving at the negotiation stage is a big achievement in itself. If you decide to sell your home for sale by owner, you need to be ready and well-prepared for this stage. Several FSBO sellers actually feel the stress of the whole process on reaching this point. They often agree to terms of the buyer and give in to the buyer's demands. Sellers often find themselves in this situation as they are eager to take the sale to the next level. This is because they think they won’t come across another similar buyer. They might not want to lose their chances of closing the deal or they might be under the impression that they won’t get a better offer.

This whole concept of thinking can go against the entire rationale of selling by owner - to make extra money. When you're selling on your own, you want to make sure you get the best deal and not just the fastest deal. Home buyers generally tend to negotiate a lot more when it comes to FSBO properties as they're under the impression that they also may be able to take a share of what would've been the agent's commissions. As a seller, you need to be aware of the market conditions and the prices running for similar properties in the market. When negotiating, remember that price is not the only factor you can negotiate with. You can choose to give away part of your furniture, choose to offer a few finacing options, . . . - there are plenty of other factors you can negotiate with.

Once you've reached an agreement and arrive at the contract stage, as a seller, you must be aware of any contingency the buyer has added to their offer. You must fully understand the terms and conditions of the agreement before taking it forward. You must also make sure that all necessary disclosures about the property are made to the buyer, as this has often been the cause of post-sale legal disputes.

Sameer S Panjwani - ChoiceOfHomes.com : Find Homes for Sale by Owner

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