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Tuesday, October 26, 2010

Deal "Good Will"

Flexible vs. Strained Purchases

What's goodwill between the Buyer and Seller in a deal worth?

Usually, at least a couple hundred bucks -- which is why I encourage my clients not to go overboard negotiating for the last $50 (in a bigger deal, I'd up that to $250 or more).

Case in point: my client had neglected to remove a washer/dryer, as required by the (last) Addendum to the Purchase Agreement.

It was an easy oversight to make -- the home had four of them.

What happened next?

The Buyer's agent, who caught the slip during the walk-thru, made a few phone calls and took care of it.

Whether the issue is changing the closing date, dealing with walk-thru issues, working through an appraisal "hiccup" -- whatever -- the problem is more easily surmounted if the Buyer and Seller have a positive, cooperative working relationship with one another.

It also makes the closing much warmer.

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