Beyond how emotional and significant it is to purchase a home, it is still a business transaction and that is why the two parties involved, the buyer and the seller, want to get the most out of it with the best gains.
Flexibility, willingness of all, the experience of the real estate agent involved, the ability to negotiate with buyers and sellers to become positive to come to a successful conclusion are the necessary aspects. The following factors can become a problem while you negotiate the purchase or sale of a house, but luckily they have a solution.
1 – The Price
It is key to reach an agreement, and when it is achieved, this should be respected. The problems usually occur when one of the parties is not convinced that this should be the price, and as time goes by and they think it over, it becomes more troublesome problem.
For the solution, find similar and comparable sales or ask for an appraisal. If the price is right, it will be difficult to change. Also if you signed a contract accepting that price, you could have legal consequences.
2 – The Counter Offers are not well received.
It is wrong for the buyers to think that if they offer the amount ordered by the seller, they will not receive a counter offer. With the current market in which short sales reign, where a third party is the one who finally approves a sale, the seller can put a price that is not accepted by the bank and it is when it sends a counter offer.
For the solution, the counter offers are usually not final and usually show that you want to trade. If it is not a satisfactory agreement, you can continue to negotiate until you are all in agreement. In addition if, for example, you raise the asking price, ask if you can get benefits as collateral, closing costs or some repair.
3 – Approval takes too long.
It is another real problem of the market today. The waiting time can be more than 90 days and many buyers become tired, despair or simply find another home.
For it solution, the keys are communication and patience. You will need several approvals i.e. the owner’s and the bank that owns the property in case of loan. It is important that you make real expectations, even if they tell you that the case will close quickly.