Prepare for All the Inspections and Negotiations During Escrow
You’ll have to make time for all the inspectors to come through. At the minimum, there will be a home inspection and others like termite inspection. If the buyer is borrowing money to buy your home, then an appraiser will be scheduled to walk through your property as well. Expect the seller agent to negotiate concussions after every inspection. For instance, buyers will ask for a list of repairs after the home inspections. You can deny all of them of course, but you’ll have to weigh the chances that they will drop out of a deal. So be reasonable and gauge the temperature during your negotiations.
Likewise, the buyer may ask for a lower price if the appraiser comes back to say that the home isn’t worth as much as the buyers were originally willing to pay. Since the appraiser’s assessed value of your property will directly affect how much the buyers can borrow, sometimes buyers are asking for a price reduction because that’s all they could afford.
Therefore, it’s really important that you treat the appraiser’s appointment just like any potential buyer showings. This means turning on all the lights, opening the windows (or the A/C) so the temperature is comfortable and cleaning up before the meeting.
Don’t forget to make sure that the seller’s agent is there during the meeting as well so he or she can point out all the positives of the property.