Mission Viejo Real Estate Negotiations Call for Creativity
Use Your Creativity in Mission Viejo Real Estate Negotiations
Mission Viejo real estate negotiations are critical to home buyer and seller success. There are negotiations going on all over the place and at many points along the journey – from meeting with a Realtor at your kitchen table to receiving the keys to your new home. Here are the three most crucial points in the process where you’ll be in Mission Viejo real estate negotiations, whether you like it or not.
The Listing Price – This is always fun. As a home seller, you have aspirations regarding the amount of money your home will fetch. Your Realtor will no doubt be armed with facts and data, such as the price homes like yours have actually sold in the last three months with pictures of the location and condition of said homes. She will have analyzed the similarities and differences between your house and those that have recently sold and will tell you what the current market value of your home is. This is where the negotiations begin. You want more money than what the current market is telling you you’re likely to get and want to list your house for sale for a price higher than any other home like yours has sold for in recent history. You’re Realtor will, hopefully politely, point out that there is no evidence to support that price and lists the pitfalls to setting the list price too high. You reluctantly agree to come down just a tad, and ask what’s wrong with trying to get as much as you can. Things like “no one will come to see your house because the price is too high for what you have to offer” and “your house won’t even show up on the radar of the pool of real potential buyers because your price is above their search criteria” come to mind. Your Realtor will continue to negotiate with you to get your list price as close to current market value, with some room to negotiate on a purchase price with a well qualified buyer. Which leads us to the next round of negotiations.
The Sales Price – Clearly, buyers have no say in the above negotiations as to the price you’re asking for your house. But they have much to do with actually purchasing your house. Buyers and their agent negotiate on what price to offer to pay for your house. This is another fun discussion, where you might hear phrases like “that’s insulting,” “they may not even respond to such a low offer,” “but, they might be desperate,” and “we don’t want to over-pay.” Sometimes there’s a three-way round of negotiations on the offer price. You probably can’t imagine a time when you and your spouse or partner had a different idea about a fair price, driving a hard bargain, being a savvy negotiator than you did. When you finally come to an agreement on what price you’ll offer, you start the next round of negotiations.
The Counter Offers – In my arsenal of Realtor tools by virtue of my membership in the California Association of Realtors, there are eight buyer counter offer forms and eight seller counter offer forms. Without coloring outside the lines and changing buyer counter offer 1 to buyer counter offer 11, that’s 17 rounds of counter offers that you might have to go through to get the job done using the official forms. Don’t give up and be creative!
I’m Leslie Eskildsen, helping you make the right move in Mission Viejo, Rancho Santa Margarita, Coto de Caza, Laguna Niguel, Laguna Hills, Irvine, Dana Point, San Clemente, Laguna Beach, Newport Beach, and Corona Del Mar.