The Offer: There’s More To It Than Just The Price

Fixating on price in real estate may cost you the deal:Sellers who decide that a specific dollar figure will buy their home and won’t budge from that bottom line may sell themselves short.Buyers who drop out of a transaction for a property they love because the seller’s counter-offer shocks them may be quitting before they have really started negotiating.When a buyer makes an offer to purchase a house or condominium unit, the purchase price is a prime consideration, but it represents only part of the total value offered to the seller. Problems may arise for both sides of the transaction when this fact is forgotten. Value Elements in an OfferThe value expressed in a buyer’s offer to purchase, or in a seller’s offer to sell, involves 5 key elements — a financial package:Purchase Price, the stated amount of dollars offered by the buyer, represents a significant contributor to value, but there are other important factors which can reduce the amount the seller receives or which can compromise the transaction. It’s not the purchase price, but the net proceeds of the sale that sellers — and savvy buyers — should concentrate on.Closing Date, or the day ownership changes hands and the seller receives the money, can represent cost or value to both parties.

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The Offer: There’s More To It Than Just The Price

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