By Barbara Lehrer
Real Talk
Barbara Lehrer.
I always say each transaction is a story. Individual properties, finances, inspections…the list goes on. There are many reasons all deals are complicated.
My own perspective of how to work the contracts properly are simply preventative ideas. The buyers and sellers need to be aware of how to develop trust right away when an offer is presented.
The buyers present a complete package with their qualifying letter, the offer with definite dates and amounts and a positive attitude of excitement and goodwill. The buyer has been counseled through inspections on what is viewed as problematic and what is normal wear and tear. The seller then digests this information, also having already reviewed his guidelines for responding properly.
The first rule is to respond as quickly as possible, showing good faith and appreciation for the offer, no matter the price. We all maintain business manners, although the decisions are emotional times in many cases. The seller has already set up an anticipated price, the time frame in which they can reasonably vacate with a place to go (hopefully). They can just concentrate on the steps ahead, such as whether the price is fair. The seller also needs to review the inspection to come and the dates in which the buyer will definitely be able to move forward with a commitment. It is imperative for everyone to have trust, especially in the real estate representative as he or she moves ahead with all rights recognized on both sides.
Holding back the sale can be the direct result of unclear inspection comments or the inability to get a second opinion within the time allotted. Everyone needs to be patient and honest. For example, if the residential property disclosure is not exactly truthful or accurate, it can result in the buyer wondering if other things are not disclosed. Most of the time, items that are a surprise to the buyer during inspection are also a surprise to the seller. Again, here is where emotions can keep buyer and seller from proceeding with a good transaction.
From the start of negotiations to moving day, each party will have a good experience if they take their time understanding the other person’s perspective. Selling is a project and buying is the most expensive purchase ever.
Keep the deal together by preparing yourself for all the ins and outs of what is to come before you jump into the market. A good realtor will tell you all this on the first meeting so that you will not be stressed with each section of the contract or each of the vendors’ communications as you move ahead.
Real estate has never been better orchestrated than it is today. The state Department of Consumer Protection has established immense protections for both buyers and sellers. Each rule is on your agent’s plate. Enjoy the experience.
If you need more information on these issues, email Barbara.Lehrer@cbmoves.com.