Steps to
Buying a Home

 




Negotiation

Negotiating . . . your purchase price, terms and conditions with the seller's agent is one of my key functions.

When large sums of money are involved, differences of opinion on the value of a piece of property may arise so it's useful to have intermediaries available to resolve conflicts and provide calm objective advice.

Remember, you've authorized me, in the buyer agency agreement, to negotiate on your behalf. You're not bound to follow my advice but I'm bound to follow your instructions.

Direct contact between buyer and seller at this point is inadvisable and inappropriate.

Once we've submitted a Signed offer . . . there are three things that can happen. It may be accepted, rejected or countered. Acceptance and rejection are pretty straightforward but it's important to understand a few things about counteroffers.

In order for a legal purchase contract to exist there must be an offer, acceptance of the offer and delivery of the accepted offer. When a seller counters, your original offer is voided. The seller remains free to entertain other offers and it's up to you to respond to his counter, either by accepting it, presenting a counteroffer of your own or by looking elsewhere.

This phase of negotiation is ordinarily conducted orally between the buyer's agent and the seller's agent, each acting on the intsructions of their principals.

When both parties have reached agreement . . . a new written offer is prepared for your signature and submitted to the seller. When that offer is signed by the seller and returned to us we have a contract and are ready to move ahead.
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