If you have “evidence” to support your asking price, including an appraisal, comparables, and a handle on current market conditions, you are in a better position to dictate price.

Here are some home selling tips that can help you maximize your net realized home equity when the prospective home buyer has indicated thought heir offer to purchase that they want a portion of it. Remember to put any verbal concessions/negotiations you agree to into the sales contract/Offer to Purchase agreement.

• Negotiate through an expert 3^rd party- This takes the emotion out of the negotiating process. You simply negotiate through a buyer’s agent or contract lawyer.
• Pay attention to local market conditions - Unfortunately for buyers, the fact is that in a sellers market the FSBO seller often has the option to simply accept another offer from a more cooperative buyer. Unless you are pressured to sell by factors other then the market, a strong “sellers” market can be your best friend.
• Negotiate the terms of sale. Find out what the prospective home buyers triggers are. Price is rarely the only factor that the prospective home buyer has to consider. Offer to close in 30 days instead of 60.
• Negotiate with cash. Cash represents a desirable inducement to a prospective home buyer, especially if the potential home buyers are short on down payment money. Offer a “rebate” back to the home buyer to pay a portion of their closing costs. These costs can potentially represent from 3 to 5 percent of a buyer's total purchase price.
• Suggest to the prospective home buyer that they check with the mortgage lender to cut or eliminate some upfront fees in exchange for a slightly higher interest rate. Also consider offering the buyer more money for the down payment in the form of a second mortgage or vender take-back.
• Negotiate with stuff. Consider repairing any deficiencies identified during the home inspection, include major appliances, window covers, lawn equipment or other items that did not originally form part of the “Offer to Purchase”

The trick is to be reasonable, professional and creative. Some potential home buyers will low ball their first offer just to determine your “best” price. You cannot get offended by these offers; it doesn’t necessarily mean they won’t come up to your asking price. They simply want to ensure that they are getting the best price possible. The good news is that they are serious about buying your home. Seriously consider every offer; simply treat it as a starting point for more serious negotiations.

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