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