For the second installment into our series on making a successful purchase, we’re going to discuss how a home purchase can be executed so that buyers and sellers both get a fair deal.
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Today we’re back with the second installment into our series on making a successful purchase. This time, we’re discussing the purchase itself. If you happened to miss part one, you can find that episode here.
At Keller Williams, we believe every purchase should create a win-win situation for the buyers and sellers involved. To ensure this is the case, there are a couple of specific points of focus that should be considered during negotiations:
1. The closing date. Because of the potential for holding costs, many sellers would prefer to close quickly. Of course, this won’t be true for all sellers. Sellers whose next home is a new construction property might prefer a longer period of escrow.
2. The price. This point is particularly crucial. Sellers want to earn a price they feel is fair for their home, while buyers want to get a great deal, too. And given the wide number of financing options available to buyers, the terms of various loan programs will also come into play. Cash is always king, but many loan products available today can be equally attractive if leveraged correctly.
Having these points in mind is a great start, but it’s also still essential that you connect with a professional who can represent your best interests. Both parties should work with an agent, for example, but buyers must also pursue the help of a loan advisor if they want to ensure that their deal goes smoothly.
Once the buyer drafts a purchase contract that is fair and to their liking with the help of these professionals, they will present it to the seller, who will then reject, accept, or counter it. Assuming the contract is ultimately accepted and the buyer and seller are able to have a meeting of the minds, then this is when the real work begins. We’ll cover this point in the process next time, so keep an eye out for our final installment into this series.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.