Last week's column talked
about negotiating to attempt to bring the buyers and sellers together. If you
are buyer, you should be prepared with the proper components to submit an offer.
An offer is not simply the price.
The Realtor will act as the conveyor of
information. There are a few things to look out for in such negotiations: 1)
include a finance contingency, even if you have loan pre-approval, 2) insist on
an engineer's, termite and radon inspection contingencies, 3) itemize the
personal property you want included, such as chandeliers or drapes, and 4)
submit the closing date you prefer.
Buyers should be prepared to make their best
offer first, but if that offer is not acceptable to the seller, they should
expect to go through a round of counter-offers.