The 7 Key Negotiation Points in Real Estate Contracts

In this episode of The Foreclosure Fix, host DJ Olojo delves into the often-overlooked elements of a real estate contract that are ripe for negotiation beyond just the price. With the mission of helping 1 million homeowners successfully navigate foreclosure, DJ Olojo shares expert insights and practical tips from his extensive experience in the real estate industry. Whether you’re a seller facing foreclosure or a first-time homebuyer, this episode provides the tools you need to negotiate terms that can benefit both parties. Tune in to learn how to maximize your leverage in real estate deals.

Key Takeaways:

1. Closing Costs: Understand how negotiating closing costs can reduce the financial burden on the buyer or increase the seller's net proceeds.
2. Closing Date: Learn how the timing of the closing date can be adjusted to better suit both parties' schedules and financial situations.
3. Due Diligence Period: Discover the importance of negotiating the length of the due diligence period to ensure ample time for inspections and decisions.
4. Earnest Money Deposit: Find out how the amount and conditions of the earnest money deposit can demonstrate the buyer’s commitment and protect the seller.
5. Financing Terms: Explore how negotiating financing terms can create favorable loan conditions for the buyer and help the seller close the deal faster.
6. Inspection Contingencies: Learn about the significance of inspection contingencies and how they can be used to address property issues before finalizing the purchase.
7. Sale of Current Home Contingency: Understand how this contingency can provide the buyer with the necessary time to sell their current home, ensuring a smoother transition.

For more tips and resources, visit The Foreclosure Fix website.