THE SELLER ’ S JOURNEY | 14
OFFERS / NEGOTIATIONS DUE DILIGENCE / CLOSING
OFFER PRESENTED
When an agent is working with a buyer and the buyer wants to place an offer on a home , the buyer ’ s agent contacts the seller ’ s agent . The seller ’ s agent then contacts the home seller to present the terms and conditions of the offer .
NEGOTIATIONS
Not all buyers and sellers are thinking the same when it comes to transferring legal ownership of a home . In the end , negotiations are a NORMAL part of the seller ’ s journey .
COUNTER OFFER
As the seller , you wait for the buyer to make the first offer . You can agree to their terms and conditions or you can counter offer with your own terms and conditions . It is FAIR and REASONABLE for both sellers and buyers to counter offer as they negotiate the terms of the sale .
ACCEPTED OFFER
At some point in the offer / negotiation / counter-offer process the buyer and seller agree with each other . This is called the accepted offer , which ends one phase of your seller ’ s journey and starts the final phase .
INSPECTIONS
In most real estate transactions , the buyer will write in the accepted offer to have a property inspected . The inspection is to protect the buyer from hidden issues that cannot be seen with the naked eye . Inspections are a NORMAL part of the seller ’ s journey .
REPAIRS
After home inspections and / or appraisal reviews , you may get requests to have repairs done with the home . It is FAIR and REASONABLE for the buyer to ask that repairs be made . It is your choice to make the repairs -- most sellers do .
BUYER CLOSING PROCESS
You are waiting for the buyer ’ s mortgage company , title company , appraisers , agents and lawyers to go through all the due diligence , paperwork , and final walk-thru to legally transfer the property . Further negotiations may be needed to keep your seller ’ s journey on track .
CLOSING
This is when you meet to sign the legal papers to transfer ownership and collect any money due at the closing .
36 %
of home sellers offered incentives , like a home warranty , to attract home buyers . 1
98 % is the average of asking price home sellers received in 2016 . 1
Jessa Harden , HUFF Realty | SELLER ’ S GUIDE TO REAL ESTATE