Don’t underestimate good will in a real estate transaction

Good will is free

In a real estate transaction, both the buyer and the seller are, understandably, focused primarily on money–for the buyer, it’s how much it will cost to purchase, close on and move in to the new house. For the seller, it’s about the net proceeds collected after all fees are paid off. There are, though, other aspects to the transaction which, while less quanitfiable, can matter significantly. If you, regardless of whether you’re the buyer or the seller, can accommodate a change or request from the “other side” of the deal, you will build good will. For example, let’s say that you’re the buyer and seller tells you, after everything is signed, that she would like to take the chandelier in the dining room as it belonged to her grandmother. She offers to replace it with something of your choice. If you agree, which you do NOT have to (you may not even have liked the chandelier!), you’ve built some good will.

It pays you back

Now, consider some of these very common scenarios:

1. Your parents come to town and you’d love to show them the house you’re going to be buying.
2. You’d like to have a hardwood flooring person come in to measure so you can get flooring for the carpeted areas ordered and the work can begin the day after settlement instead of being delayed.
3. You would like to change settlement by a day or two because your movers just told you they miscalculated and can’t meet your original moving date.
4. You wonder if they’d be willing to leave the kitchen bar stools

If you ask the seller whether they will allow a visit to the property/change in settlement date/leave the stools, she is much more likely to agree since you were kind enough to allow her to take her grandmother’s chandelier. The more of these “feel good” exchanges you have, the less stress there is related to the entire process. Don’t underestimate the value of good will!

If you are relocating to the Philadelphia/Main Line area, please go to my blog page and search for posts using the relocation tag. Contact me to discuss your Philadelphia area relocation! jen@jenniferlebow.com/610 308-5973