Property Rights Law Firm, P.A.
407-208-2652

Home sellers and negotiation pitfalls

Florida homeowners who are trying to sell their home may encounter many roadblocks while attempting to get the price for which they are asking. While the condition of the home plays a significant role in how much it sells for, the negotiation skills of the seller are also a factor, and there are certain mistakes that should be avoided.

Sellers should make sure to counter low bids with an offer of bonuses to make the asking price more attractive. The bonuses or incentives should be something relevant to the home or its location. For example, fishing equipment or small watercrafts may be attractive to the prospective buyer if the home is located near or on the water. Other types of bonuses may include furniture, a year's worth of a membership to a local gym or a gift card to purchase kitchen items.

Sellers also want to avoid not having a contingency plan if inadequate offers are being proposed and the home will not be sold as quickly as the seller thought it would. The home could be rented until the right buyer comes along, or the seller may have the home remodeled and then place it back on the market. Whatever alternate plan they decide to pursue, homeowners should not accept insufficient offers for valuable homes.

Using the wrong numbers in the asking price is another misstep sellers should avoid. Using round numbers, such as $600,000, tends to result in buyers countering with a lower bid. According to a five-year study, homes priced at non-rounded, specific numbers tend to sell faster and at amounts closer to their asking price.

An attorney who practices real estate law may protect the interests and rights of home sellers during certain transactions. The attorney may litigate to resolve disputes regarding titles, zoning, contract terms and land development.

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