and drags out the whole process, costing you extra time and money on a buyer who may well be unable to buy the house.
Have you sold your home, or do you still need to do so?
This is a fundamental question because it will give you a general time frame for how long you have to move into a new home yourself. If they are selling their home, ask them if it is also under contract. When are you planning to move in once you find the right house? Don’t be surprised if they cannot give you a straight answer right away. However, if they completely ignore this question, you may want to consider other buyers. If this buyer says, “Within the next couple of months,” or “Within a year at the very least,” they are motivated to purchase a new home. If they say, “I’m/we’re not sure,” then you’re better off looking at a different buyer. The same applies if they say, “Maybe seven months or so,” or something along those lines—that would be a long time to keep your house on the market while they make up their minds, and it isn’t worth the hassle.
STARTING THE NEGOTIATION PROCESS
During negotiations, you will have a lot to do. You will need to have certain things prepared beforehand, and there will be a lot of numbers to go over and a whole pile of other issues to deal with. Let’s run through the basics:
The Initial Preparation
The first step during the negotiation process is one of the most 84
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