Our 5-Step Negotiation Process
We break the home-buying process down into 4 distinct phases: Preparation, Search, Negotiation, Closing. Across these phases are over 80 different variables that ultimately impact the outcome for the buyer. In order to help our clients potentially save $10's of $1000's we must proactively manage these variables.
Today we'll focus on the Negotiation Phase. This is where the rubber really meets the road when it comes to actually getting the house a buyer wants to purchase. And since we negotiate real estate contracts on a daily basis, we have the experience to give our clients a position of strength.
We've developed a very simple negotiation process that has 5 steps:
Step 1 - Seller Interview
Once a shopper has selected the house they want to buy, the first step before any offers are written is the seller interview. We want to know as much information about the property and the seller as we can get a picture of the landscape.
Step 2 - Market Analysis
A full market analysis of the market conditions and the comparable sales will help to establish pricing for the property in question. We want to make sure that the price the seller is asking is reasonable given the market conditions.
Step 3 - Bottom-line Analysis
It is essential to not just focus on price, because there are many other costs involved in the closing. A bottom-line analysis will alert the buyer to the estimated total costs associated with the down payment, closing costs, monthly payments, etc.
Step 4 - Offer Presentation
There is a strategy and etiquette to presenting an offer. Just like the seller wants to present the house in its best light, we also want to present our offer in the best light. You may have a different strategy of how to present an offer in light of the information gained during the seller interview.
Step 5 - Due Diligence
Part of the overall negotiation process is gathering information related to condition, value, chain of title, etc. We have all of the people needed to make sure that our clients have the data they need to make the best decision: inspectors, appraisers, surveyors, contractors, title researchers, attorney's and more. This will give the buyer peace of mind that they are buying the right house at the right price.
If you've been thinking about buying, put us to the test. Our VIP Buyer Program is designed to ensure that your home-buying experience is top-notch!
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