You can expect some tension between you and the buyer. After all, you want the most money for your house while the buyer wants the most house for their money.

If you've employed an agent to represent only you, rely on this professional to direct events. If you are selling your own house, consider hiring an attorney or agent (acting as a real estate consultant) to help with negotiations, especially if you don't know how to be tough and yet reasonable. Remember that this will be a negotiation, not the start of a wonderful new friendship.

If you want to understand the process, you can put yourself in the place of the buyer and think about what you would do to get the best deal. If you want more information, review the section on buying a home. That will give you a sense of how a knowledgeable and well-prepared buyer might go about selecting your home, making an offer and negotiating the best deal.

• All negotiating should be done in writing, never verbally.
• Don't react to hypothetical questions the buyer asks hoping to discover your bottom-line price and other terms.
• Don't feel you must commit to the first offer presented, particularly when it's below your expectations.
• Remain confident. You've priced your home properly and it's competitive with other houses on the market, so be patient.
• On the other hand, don't disregard a good offer just because it's the first or second one you receive. Early contracts on a well-priced house are usually submitted by the most serious, well-qualified buyers -- people who know their own needs and resources and who have studied the market carefully. A reasonable offer from such a prospect is worth serious consideration and probably a counteroffer from you.
• Don't be overly impressed by a large earnest-money deposit -- it doesn't automatically cement a contract. Most offers contain language that makes it likely such deposits will ultimately be returned to their offerers if a deal doesn't go through.
• Examine each contingency. Beware of the contract that binds only you. Getting a seller to accept an offer that nails down the price and terms but leaves the buyer free to escape through any number of clauses is a favorite buyer strategy.

Once a contract offer passes your preliminary review and becomes a candidate for acceptance, it should be reviewed by your attorney or be made contingent on such a review.