Negotiating Your Best House Selling Price

Homeowners are expected to negotiate the house selling price. Hardly ever does anyone offer to pay the full asking price. Some may have fallen in love with your home, but they can't afford it, financially. Others are bargain hunters; they will try to wrestle the price to the mat. The majority will simply want to feel they got a good deal, that's human nature.

Don't be disappointed if no one makes an offer after having viewed your home the first time. But when someone returns with a measuring tape, be prepared that they will want to start negotiating your house selling price.

When you sense that a prospect is on the verge of making an offer, you are in a strong position if you can show certificates of appraisal and home inspection. This shows the potential buyer what condition your home is in and how much it is worth in the market place. And, to guarantee he doesn't face expensive, unexpected repairs down the road, you are prepared to hand him a Home Warranty on closing.

Calculate the value of these three items. If your asking price is below or very close to the appraisal, in a friendly manner say: "Considering the money I'm saving you on the home inspection, home appraisal and home warranty, I think it's a fair price."

Some might agree, but most buyers will squeeze harder. Since you are selling without an agent, they know you are not paying commissions and figure the savings should go to them. Here's what you might reply:

"Because I have financial obligations to cover, I chose to do all the selling myself, so I could put the real estate fees in my pocket. Joe, you know what I am asking is a fair price. The very best I can do is reduce it by $500 (or whatever figure you feel you can afford)."

If you say this with conviction, the buyer will know the best house selling price is on the table. Negotiations are over. He either agrees to the terms or he leaves. If you do shake hands on the deal, the next step is to put it all on paper by drafting an agreement.

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