If you're planning on selling your Victoria, BC real estate to look into Brampton homes for sale, it's important to familiarize yourself with receiving offers and conducting negotiations. Victoria is a popular area so you're likely to receive multiple offers. Home sellers who plan to hire a realtor don't need to worry as much about negotiations, as your realtor will handle them for you, but for sellers going it alone, the following information can be vital.
Receiving an Offer
Once you've had your home listed, braved the open house, and taken several buyers on tours of your home, it's likely that you'll receive an offer to purchase your home from one of the buyers who are looking to move to Victoria from Markham real estate. If the buyer knows what he or she is doing, they will have their realtor call with the offer AFTER the open house or tour has been completed and will have official offer papers drawn up by a lawyer. If they don't, you have no idea what the terms of their offer are and might therefore conclude that they aren't serious.
Countering an Offer
If the offer is for the amount you asked for in the listing, congratulations! Your work is done. Accept and enter the closing period. However, if it is not, you must decide whether to accept anyway or to counter. If you need more money to put a down payment on that place in Windsor Homes, by all means, have your own document drawn up by the lawyers in the amount you are willing to accept. This places the ball back in the buyer's court. Remember though: don't be greedy and counter with MORE than the asking price.
Multiple Offers
If you receive offers from more than one buyer, you have a choice to make. You can either choose the buyer that has offered the most money, thus giving you the best down payment on your new Toronto mortgage, or you can choose the buyer based on how much you like or trust them, which is generally only the case if you love your home and care what happens to it after you leave. Remember too: you can counter any or all of these offers.
Negotiating with Buyers
If you don't have a realtor to handle this for you and you're up against a savvy London, Ontario condo trader, remember these rules: leave emotions out. Be suspicious. Get to know the buyer. And compromise, compromise, compromise.
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