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The Nail Biter of Real Estate: Negotiations

Posted by Tim Weisheyer on Sep 7, 2015 9:39:04 PM

When buying or selling a home in Central Florida, many people think of negotiating the price, but there are a plethora of aspects in the contract that need to be negotiated – some things you might have never even thought of before you read this post.

negotiations in real estate

Some examples of the negotiables related to a real estate transaction, just to list a few:

  • Price
  • Deposit
  • Acceptance date
  • Closing date
  • Inspection period
  • Repairs and amount
  • Financing contingency
  • Appraisal contingency
  • Loan commitment deadline
  • Who pays what costs
  • Home warranty
  • Where the transaction closes
  • Whether it is assignable
  • Type of title search completed and who pays for it
  • What happens if a storm is brewing, literally
  • What happens if home is destroyed (fire, flood, etc..)
  • What happens if title defect is found
  • What happens with open/expired permits
Really, though, the list could go on and on. Just looking at this list should help you understand the importance of having a seasoned expert on your side to ensure all aspects of the transaction are considered, weighed, discussed, and negotiated properly.

Negotiations don't just happen at the start of a transaction either. They are an ongoing aspect of the transaction, depending on what scenarios and situations arise during the process.

By way of example, "What happens if a storm is brewing" may not be something you aren’t concerned about during your negotiations, but during hurricane season, oftentimes a tropical system brewing in the Atlantic can impact access to homeowners insurance in Florida. Your REALTOR® will know how to negotiate your contract to plan for these unexpected – and unlikely – scenarios so that you aren’t caught off guard.

Risk-avoidance is key and leaving money on the table is never desirable - by using an expert negotiator as your REALTOR® you can turn this from a nail biter into a well polished experience.

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Topics: Selling 101, Buying 101, The Real Estate Transaction, Picking a Realtor, Negotiations

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