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Just as you have a selling price in mind, so does the buyer. Often, there is a disparity between these two prices. Clearly, the seller is looking to make as much profit as possible while the buyer is trying to garner the best deal. Some negotiating is required to ensure that everyone walks away from the transaction satisfied. Negotiations are highly dependent on accurate calculations on your part as well as a certain degree of finesse and people skills. There are a number of things to keep in mind to that end.

A crucial sticking point in negotiation is separating the emotional aspect of the sale from the fi nancial one. It’s easy to let personal feelings or emotions get in the way of trying to negotiate a fair price. As a seller however, you need to realize that the buyer can’t possibly understand all the memorable times shared in your home or the milestones celebrated there. Accordingly, they don’t perceive the value of the house in the same way that you do. Yet it is essential not to take this the wrong way. If they have made an offer, they are clearly interested in purchasing the home and should be considered on their merit. You do NOT want to do anything that might cause the buyer to reconsider their offer. Remember, you don’t need to like the buyer or develop a close relationship with them. Chances are good that you won’t ever see them again.

Financially speaking, another important aspect to keep in mind is your "net" profit. Instead of focusing on the actual sale price of the home, calculate which deal will leave you with the most cash in your pocket. Individual offers will almost always represent different "nets" depending on the various clauses and agreements decided upon. For example, an offer of $6,000 less than your initial asking price may net you more than a second offer of only $2,000 less than the asking price. This could hold true if the second offer required you to pay the buyer’s closing costs as well, which could be in excess of $10,000. If the numbers seem difficult or you are not financially inclined, consult a real estate banker or your attorney.