Step 4: Negotiation and Inspection

NEGOTIATING THE OFFER

You’ve received an offer on your home and you’re ready to review it with us. The contract has many terms (closing date, earnest money, option period and fee, financing, who pays for the title policy) but, most likely, the most important one to you is price. 

By this point, WPM team prepared a Comparative Market Analysis (CMA) and you will have a good idea about what sales price is acceptable. We will go over the terms to decide which ones need to be countered. You could choose to accept the existing offer in its entirety or you could reject it all together. All of the terms in a contract are negotiable. The key to executing the contract and coming to an agreement is finding the terms that work for both the seller and the buyer. We will advocate for you during the process and make sure that you’re completely satisfied with the contract terms and especially the sales price.

THE HOME INSPECTION

After the negotiations are completed and the contract has been executed, the buyer will schedule a general home inspection. The inspector may recommend that additional inspectors who specialize in areas such as foundations, roofs, plumbing, electrical or HVAC, evaluate the house further. After all of the inspections have been completed, the buyer may ask you to make repairs or reduce the sales price by the cost of repairs. Your WPM team will work with you to discuss the proposed repairs. We will advocate on your behalf and communicate with the buyer’s agent.