How to Negotiate for Top Dollar

When it comes to selling your home, you'll want to get top dollar for it. Consider these tips to help you get a great return on your investment.

Price It Right
First and foremost, price it right. Many homeowners mistakenly assume that setting the price too high will allow them to get the price they really want. The fact is that a price that's set too high will dissuade prospective buyers from even looking at your home. On the other hand, don't set the price too low in hopes of getting multiple offers and receiving an offer that exceeds the asking price. In order to negotiate for top dollar, your house needs to be priced according to its market value.

Research the sales prices of recently sold homes in your area and you'll have an idea of the current market value of your home. Of course, this price will need to be adjusted according to its condition and what amenities your home has or lacks in comparison.

Schedule a Pre-inspection
Before you list your home, it's wise to have a pre-inspection completed on your home. If any repairs are needed, you can either have them done or make prospective buyers aware of them and negotiate on the price accordingly. If, for example, the home needs to be re-shingled and you don't have the $3,000 to do it, you can deduct that amount off the price of the home or take off even a little more to entice the potential buyer.

Be Generous with Inspections and Closings
Another way to ensure you get top dollar for your home is to be generous with the inspection times and closing date. For example, a buyer might make an offer on your home for $10,000 less than the asking price. The buyer asks for a closing date further away than what you had specified. You can counteroffer for the full asking price, while accommodating their request for a different closing date. Be sure to note that you were hoping for an earlier closing date but are willing to wait, as long as the price is changed to what you want. By being lenient with other terms of the purchase and sale agreement, a seller is more apt to get what they want on the price of the home.

Offer a Home Warranty
Offering a home warranty on your home is also a way to get top dollar. The home warranty may not cover everything that could go wrong, but it'll allow the buyer to have some peace of mind. For example, if one day after the closing the water heater were to break, the buyer would be covered by the home warranty and you would not be liable.

To get top dollar for your home, ensure your home is clean, tidy and well cared for. By presenting your home in pristine shape, you're more apt to get the selling price you desire.