This entire agreement is subject to my attorney’s approval!
Now have everyone who is a contracting party to the agreement acknowledge the above statement by signing their names and attesting to the effect that they agree to abide by that statement. If your attorney disagrees then they can either accept his decision, renegotiate to mutual satisfaction or walk away, while retaining their good faith earnest money deposit that your attorney is currently holding in trust at that time.
Fact: 40,000 lawsuits are filed each day! They're not all real estate related but does it matter?
All right Fiz, now that you have a general idea of how to review an offer looking for any of those weasel clauses, you can begin to formulate just what you are willing to do according to what the buyers have indicated at this point.
Is the price fair or do you need to counter that by a few percentage points? Are there any conditions they’ve set forth that just aren’t going to work for you? If so then this is the time to strike them out or draft a statement saying when they must be satisfied, removed, or adjusted according to certain events taking place. Once you have a general outline that you the sellers alone can begin to agree on, that is the time to schedule the appointment with your attorney.
The reason you have said you will return a reply within 24-48 hours is so that you have the time necessary to sit down with your attorney and draft a strong counteroffer which satisfies your initial needs while hopefully being acceptable to the buyers. If, after the buyers have reviewed your counter offer, you have what appears to be an initial meeting of the minds or acceptable proposal with only some minor details to be worked out, then set a time quickly to have the buyers meet with you and your attorney to iron out those details and officially set this contract in stone.
Remember you should be getting top dollar and if this is the case, you can afford to be somewhat generous at this meeting. Don’t be greedy!Don’t kid yourself Fiz, this isn’t easy! But if you want to save that commission, slaughter your competition and get top dollar all at the same time, then you are going to have to work your tail off to get it.
You now have a game plan that removes a fair amount of fear while at the same time affords you the opportunity to achieve new levels of understanding and accomplishment, the knowledge that you can do this! But you cannot drag your feet and run out of time, Start early in the season long before the feeding frenzy of buyers flood the market. Smart buyers also think ahead and they will appear at your door if you present a fair deal. If you find the market telling you it doesn’t like your offer, then adjust it according to plan. You need to try! You need to believe you can! What you need to do, Fiz, is to get started! You’re going to get plenty of help my friend! Believe me, when you called the cyber-help line, you tapped a most extraordinary source of power.
What you did was tap the heart line, my friend, and no stronger force than the power of love exists. This is what will propel you to accomplish your goals, the key to using this great force is that you first must give it! Only then will you unlock the doors to true prosperity. Cultivate desire, faith, love, enthusiasm, romance and hope. These are the magic bullets that create miracles. Fear, greed, jealousy, anger, hatred and revenge bring only pain and cancerous death.
Visit with us, my friend, and together we will help others take hold of their own destinies as well. You can find a large family of similarly helpful and truly talented individuals on the web at your cyber-space home for real estate MagicBullets.com. When you have further questions, my friend, come there and we together will find the answer.
A big thank you is in order to Kendall Simmons for the assistance in fine tuning this FSBO tutorial.
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