Negotiation and Closing

8. Contracts, Negotiation and Closing
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Many Factors will Effect the Outcome
Most transactions involve a large amount of negotiation between buying and selling parties from initial offer to signed contract. Buyers will typically submit an offer which will serve as your “starting point” in the negotiation. It is incredibly important to at least consider every offer that comes in on your property as with the right negotiation, even “low ball” offers can turn into acceptable ones. We at Alex Lowery Real Estate will provide objectivity, experience and counsel every step of the way through closing. Keep in mind that price isn’t the only part of the negotiation – and our duty to you is to counsel you on the terms of sale that will make an offer more attractive.

An overview of the most common elements of negotiation are:
1. Price – Our knowledge of the current market is incredibly important in helping you negotiate this element of the sale. By selecting and countering with specific comparable properties we are able to state our case for our asking price. We will also assist you in considering time value of money in your decision, (will a higher offer offset potential additional carrying costs).
Why You Should Always Counter A Lowball Offer
Why Sellers Issue Counter Offers at Full Asking Price

2. Mortgage Contingency- Most buyers in the market today purchase a home subject to obtaining a mortgage. The terms of this mortgage and a timeframe for securing financing must be stated in the contract before we consider negotiations. We will make sure that we are comfortable with the terms and the buyer’s ability to obtain a mortgage before proceeding. If a buyer cannot obtain a mortgage the contract could be void. What is a Mortgage Contingency?

3. Home Inspection – Almost all buyers will choose to conduct an inspection of your property by a licensed home inspector to identify potential structural or material problems. If the inspector uncovers any issues, we must be ready to address these concerns and negotiate what items will be addressed, by whom, and who will be responsible for them. Use a Home Inspection to Help Market Your Property

4. Title Company – After the title search is completed, it is examined by the examiner and a Commitment of Title Insurance is prepared. A copy is mailed to all parties involved, including the Real Estate Broker or Agent, the Lender, the Buyer(s) and Seller(s) if applicable for review.  After the Commitment for Title Insurance has been reviewed by all parties, and all title matters listed on schedule “C” of the commitment are resolved, a closing is scheduled by the Real Estate Broker, Agent or Lender. An Introduction to Title Insurance in Texas

5. Closing Date and Moving – This is the date when the property will exchange ownership and usually the date where the seller must vacate the premises. We will work hard to find a mutually agreed upon closing date and insert into the contract any special needs that you as the seller may have when it comes to closing and actually moving out.
Eight Ways for a Buyer to Miss Your Closing Date 
What to Have on Hand for the New Owners

Our goal is to serve as your trusted advisor and help lead you through this often-times confusing process. When selling your home with us, please understand that our responsibility is 100% to you the seller and we will not engage in “Intermediary Relationship” unless you are comfortable.