Margaret Rome's Blog

When writing a contract everything is negotiable before you sign. The contract for a listing is 15 pages, the contract for a sale can be as many as fifty.

After the contract is signed and you want to negotiate, it may not be easy. Contracts are legal and binding and you may need to seek legal counsel.

Most of the time your answer is right in the contract so make sure you not only read it, but understand what you are signing.

Here are some points in the  listing contract.

The listing has a length of time, when it begins and when it ends,  how the property is shown and commission.  There is a starting date, an ending date and a provision for the termination.

And many more points in the sales contract.

 At the top, of our Maryland contract, is a Time Is Of The Essence clause. Dates must be followed.

Settlement date...if there is a change, it must be agreed in writing by both parties.

Home inspections have a date to be performed, a date to get the requested repairs to the seller and dates to respond. There can be negotiations and interpretations of the inspection process. 

Appraisals must be ordered by the lender within a certain date.  Financing and approval also have dates.

Negotiation is not always about price. It could be about terms, dates, repairs, settlement, what was included/ excluded and a myriad of other items. Does the gas grill stay, does the Tiffany lamp remain...was it in the contract as opposed to but I thought. 

It has been said that before you sign...it is called negotiation.

After you sign it is called begging.