Evaluating and responding to different offers

Provided By Trulia

Congratulations - you have received an offer on your home! So how can you evaluate and respond to the offer ihttp://www.blogger.com/img/blank.gifn a way that protects your interests but doesn't send buyers running for the hills?

The first thing to remember is that all offers are good. Why? Because it shows that a buyer has chosen your home over the massive amount of competition available in the marketplace. Any offer then, regardless of how high, low, or crazy it might be, should be taken as a compliment. Now the harder question - Should you accept the offer?

As a seller, when you receive an offer you always have three choices. First, you can accept the offer - this means subject to the conditions of the sale your home is officially sold. Second, you can reject the offer, and in effect tell the buyer to kindly kiss off. Or third, you can counter the offer. While many sellers instinctively reach for a pen to counter all offers, wise sellers take a deep breath before making this decision.

Many sellers view making a counter offer as a natural part of the sales process, but what many don't realize is that they are really rejecting the buyer's offer first and then presenting a new offer back to the buyer. The trouble with this is, the instant you give the buyer a moment to pause and reconsider their decision, even for a minor point, you run the risk of losing the buyer. Because of this the question that successful sellers have learned to ask themselves first is: Is it really worth a counter offer? This simple question should be the measuring stick with which to evaluate every item you plan to ask for from a buyer. In many cases the risk is not worth the reward.

If you are forced to make a counter offer keep in mind these three tips:

Attempt to understand the buyer's position

A negotiation is never a one way street. In order to create a sale, both parties must feel they are receiving a good value. Learn as much about the buyer, including their background and reasons for making their initial offer, as possible. By doing so you may able to find common ground that can create a successful sale.
Use the give and take technique

When making a counter offer, think in terms of, not only what you want, but what you might be willing to give up to make the sale happen. For instance, if you are asking for a higher price, can you help pay the buyer's closing costs or perhaps pay points to help them secure lower payments?
Emphasize the positives

In writing your counter offer you may want to emphasize the areas that you do agree on before you begin asking for modifications. For instance, point out all the areas of the original offer that are acceptable. This might include the closing date, the possession date, the down payment, the price, the inclusions and exclusions, the financing type, specific conditions or contingencies, or even something as simple as the size of the earnest money deposit.

By taking the time to evaluate each offer and establish a negotiating strategy, based on an unemotional analysis of the market and your needs as a seller, you will be far ahead of your competition.

If you are ready to sell your home and need a professional real estate agent give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Add Instant Charm

Source: My Home Ideas/www.MyHomeIdeas.com

Transform your home into a quaint cottage with these instant updates.

Add a Picket Fence

The big idea: Frame your cottage by installing a picket fence around your lawn. Anchor posts with bright flowers for a pop of color, or plant a climbing vine that spills over the top.
Notice the details: Pickets come in a variety of shapes and sizes. Four feet is a standard height, and the tops can sit side by side or form a gently sloping pattern.

Go Dutch

The big idea: Say hello to your neighbors--and furry friends--with a Dutch door. The swinging upper sash invites cool breezes and natural light and adds a casual and friendly feel to any entryway or kitchen.
Notice the details: Original to Netherland farmhouses, a Dutch door is divided horizontally, so the top and bottom open independently of each other. Closing the lower part creates a gate, keeping small children and pets contained.

Dress Up Your Porch

The big idea: Create a welcoming outdoor room by transforming a porch into extra living space. Approach the decorating as you do inside: Combine comfortable furniture (weather-resistant works best) and eye-catching yet durable accessories for a space that invites lounging.
Notice the details: Explore vintage shops for colorful accents, like an antique birdbath turned into an urn for flowers, to blend with outdoor fabric.

Install Beaded Board

The big idea: Cover plain walls with beaded board to add a layer of texture and cottage character. Named for the thin, rounded "bead" that separates each wooden strip, beaded board is a classic choice for traditional paneling or wainscoting and creates a time-honored look.
Notice the details: Use beaded board on a ceiling to visually lengthen or widen a space. It also camouflages damaged walls and covers up unsightly popcorn ceilings.

Install a Farmhouse Sink
The big idea: No cottage is complete without a farmhouse, or apron-front, sink. Because of its depth and wide base, the style is ideal for fitting cookie sheets and family dinner-size pots and pans.
Notice the details: A two-handled faucet that's mounted on top, like this vintage bridge-style model, swings out of the way and complements the old feel of the sink.

Paint a Wooden Floor

The big idea: Paint an overscale pattern on the floor for high drama. Whether you choose a bold, geometric design or solid wash of color, a painted floor makes a big impression.
Notice the details: Durable porch paint and a polyurethane topcoat allow a floor to withstand foot traffic. If you prefer a worn look, skip the topcoat and use latex paint that will chip and scratch naturally.

Open Up Your Shelves

The big idea: Update basic or stock kitchen cabinets by removing the doors to show off your favorite collections. Open shelves not only keep items within easy reach but they also make a decorative statements out of cookbooks and appliances.
Notice the details: Add architectural interest by applying beaded-board paneling along your shelves' back wall.

Plant a Window Box
The big idea: Hang window boxes on the front of your cottage for a romantic look. Overflowing with lush annuals and punctuated with various textures and bursts of seasonal color, these containers will seamlessly blend your house and garden and instantly boost curb appeal.
Notice the details: Proper scale is essential when adding window boxes. The planter should be the same width as the window to avoid a wimpy, barely there look.

Did I Ask You?!

Too funny to pass up! Take some tips from this guy on how NOT to do business.