Question: What happens at the negotiation table?
To have more than one offer on your home is every Sellers dream and every Buyers nightmare! This is what the process looks like:
An offer date is set and once a buyer has signed the offer it is registered with the listing broker. A time and location is confirmed and the Buyers Agent meets with the Listing Agent and Seller to present the offer. Each offer is presented separately, once all offers have been reviewed the Seller has the following options:
Accept one of the offers as is.
Choose not to accept any of the offers and give each buyer an opportunity to improve their offer.
Sign-back one of the offers that the Seller wants to work with, but changing the terms and conditions to suit their best interest.
As a Seller you need to understand that if you sign back or send the Buyers into a second round to improve their offer, they could choose to walk away and withdraw their offer.
As a Buyer, you don't always get a second chance to improve your offer, so make sure you have a strong offer when you're competing for a home.
An experienced Realtor will guide you through the process.
