Maryland's Property Team

Step 6- Negotiate the Purchase Agreement

10 Step Guide to Selling Property

  • Our team will provide you with information so that you can make an informed decision
  • Present the purchase offer to you
  • Complex and involves various legal issues
  • We do not offer legal advice. Only attorneys can give legal advice!
  • Summary of most important items
  • Purchase price
  • Seller closing help
  • Escrow deposit
  • Date of closing
  • Financing
  • Proof of funds
  • Preapproval letter
  • Loan type
  • Down payment
  • Inspections
  • Buyer's right to ask for repairs
  • Buyer's right to terminate
  • Explain specific terms and conditions
  • Contract states
  • Property is to be sold in as-is condition per the date of contract ratification
  • Personal belongings are not included in the sale
  • Property to be delivered free of trash & debris and broom clean at settlement
  • Seller is not obligated to change or fix anything unless negotiated in contract
  • Items contract does not address
  • Professional cleaning
  • Steam cleaning
  • Paint
  • Nails in walls
  • Picture hangers
  • Mounted TV’s
  • Fixtures that require tools to remove generally are considered included with the property
  • Items of question should be addressed in the contract as inclusions or exclusions
  • Inspections
  • Point of inspections is to discover unknown defects in property
  • Items not in proper working order
  • Should not be punch list or future renegotiation of the contract
  • Should not address cosmetics
  • Two most common types of property inspections
  • As-is inspections with buyer's right to terminate
  • Inspections with buyer's right to ask seller to consider repairs upon discovery of defects
  • Structural/Mechanical
  • http://www.homeinspector.org/Home-Inspection-Virtual-Tour
  • Mold
  • https://www.epa.gov/mold
  • Environmental
  • Radon
  • https://www.epa.gov/radon/consumers-guide-radon-reduction-how-fix-your-home
  • Chimney
  • Termite
  • Lead Paint
  • https://www.epa.gov/lead/protect-your-family-exposures-lead
  • Well
  • Yield
  • Bacteria
  • Chemical
  • Lead
  • Radium
  • Septic
  • Other
  • Home sale or rental contingencies
  • Any other specific terms or conditions
  • Negotiation strategies and your options for responding
  • Accept
  • Reject
  • Counter
  • Structure the offer to your advantage
  • Ways to increase favorable responses from buyers
  • Striking a balance; motivated but not too eager
  • Keeping the big picture in mind
  • Communicating the potential buyer's response to you and if necessary, suggest further negotiating options
  • Reach an agreement that is acceptable to you
  • Sign appropriate documents to ratify the contract


Next: Step 7- Plan from Contract to Closing