You can negotiate anything. The real estate contract is no different. When an offer comes in to buy your home it may not be what you were expecting. This is not a problem because you can negotiate your offer to purchase contract.

You can counter the offer to buy your home by asking for price or terms that you want. The real estate agent is required by law to submit to you any offers which may come into her office.

Let’s look at a for instance: Say you are offering your home for $145,000. The market analysis showed that this was a comparable price for your neighborhood. The buyer has presented an offer of $125,000 and has asked for certain things. They want you to pay the closing costs and three points.

Stop and think about it for a moment. You know you have someone who is interested in your home. This is a good thing. They are $20,000 below asking price, which isn’t maybe so exciting. Closing costs can be another $3,000 and when you add the points this brings it to a total of $6,750. You may want to figure a way to save the deal and make everyone happy.

You already knew you would look at offers under the asking price. You also knew you would accept the first one which offered $139,000. You were willing to drop $6,000 from the asking price. So you can do that now. Counter the offer with your own negotiations. One alternative is to offer to pay the closing costs and the points if the buyer will agree to the full price.

The buyer may walk away from the deal. He may also decide this is perfect and accept it. You can only see what the outcome is. The buyer may also decide to counter the offer again. This is how the negotiations work with a Longboat Key Florida real estate deal.

You may also think you are bound by just the paperwork of the original contract. This is not true. You can add an addendum to make sure everything you and the buyer have agreed upon is in writing. By adding an addendum you know exactly what is stipulated between both parties. This means there is less confusion. Each party involved knows what is happening. No one can claim they did not understand the contract.

You must understand while the paperwork is under negotiations, it is an agreement. Once everything has been hammered out and agreed upon with signatures from all the parties involved, it becomes a contract. This contract is upheld by the courts. This is why negotiations are important. You want to make sure everything you want, need, or expect to be done is worded in the agreement so everyone understands. After the negotiations, you are bound by the contract.