Negotiating with your gut!
Selling your first home is no easy task. You need to put emotions aside, but at the same time trust your instincts. (Have they ever let you down?)
If the offer is less than you wanted, look at the contract as a whole. Perhaps the buyer is assuming some of the closing expenses. Consider possession and financing terms, as well. You can also consider splitting the difference. Remember that time on the market to find another buyer is an additional expense.
Keep these suggestions in mind as you go through the process and let us know in the comments if you have other tips to share with fellow sellers.
- Can they afford the house?
- Do they need to sell their house first - what is THEIR timing? Does it work with YOUR timing?
- What if the house doesn’t appraise for their loan amount?
- Are there any other factors about the situation? Kids timing in new schools?
Don't forget: You should also wish to consult with an attorney before you sign it, and it becomes a contract of sale. TOD can help!