Initial Contract Negotiations: Key to a Smooth Under Contract Period\
Having sold hundreds of homes in the Denver Metro Area, I’ve learned that the initial contract negotiations can make or break the whole process. When both buyer and seller find common ground and feel good about the deal from the outset, it usually leads to smooth sailing through the rest of the transaction to the closing table.
When the initial negotiations involve a lot of back-and-forth or require significant concessions, it’s often a red flag for what’s to come. These early interactions can set the tone for future dealings, indicating that negotiations might become increasingly contentious.
Smooth, cooperative beginnings are crucial. If the start is rocky, it often signals a bumpy road ahead, making future negotiations more challenging and potentially strained.
Buyer and Seller Dynamics
Recognizing this dynamic is key for both buyers and sellers. The home buying process involves several negotiation stages. For instance, a seller who is difficult from the outset is likely to continue being challenging during inspections and appraisals. Buyers should take note of these early warning signs, as they’re committing both time and money to perform proper due diligence.
Similarly, sellers should understand that if buyers feel the initial negotiations were unfair, they might push for more concessions during the inspection period or even back out of the deal altogether.
Awareness of these patterns can help both sides navigate the process more smoothly and avoid unnecessary conflicts.
Preparation is Key
Having the right mindset when entering negotiations is what will set you up for success. At Dempsey Group, we believe there is always a way to ‘yes’ and we are committed to helping you navigate negotiations successfully when buying or selling real estate in Arvada and across the Denver metro area.
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