Medford Village | Medford | Burlington County | NJ | Buying a Home - Negotiations

As a continuation of yesterday's post, today I'm going to cover the basic things that a home seller should do to prepare for negotiating the sale of their home.

1. First the seller should figure out what their bottom line is. What is the minimum that they would take for the home and still net the amount of money that they truly need. This should always be decided up front because it is when the seller is thinking most rationally , and not yet caught up in the drama of the negotiating process.

2. Then the seller should determine the market value of their home. This should be done with their agent by looking at comparable sales in the area. At this point it is important to set a high, but realistic goal. You don't want to give the home away, but you do want a price that will attract the largest number of potential buyers. Both step one and step two should be done prior to putting the home on the market.

3. Once they receive an offer, the seller should find out as much as possible about the buyer. Are they in a financial position to close on the proposed transaction? Do they have a tight time line due to a move or the sale of their own home? Would they be willing to pay more if the seller financed some of the purchase? Have they fallen in love with the home? The more the seller knows about the buyer, the better the chances of coming to a mutually beneficial agreement.

These are the most basic steps you should take to prepare yourself when selling your home. Check back soon for more tips on negotiating the home-buying/selling process.

If you'd like help negotiating your next home sale or purchase, please feel free to give me a call.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com