Dictionary of Business Terms: negotiation
negotiation
process of bargaining that precedes an agreement. Successful negotiation generally results in a contract between the parties.
Dictionary of Real Estate Terms: negotiation
negotiation
the process of bargaining that precedes an agreement. Successful negotiation generally results in a contract between the parties.
Example: Nelson wishes to purchase a property from Newman. Nelson is willing to pay up to a certain price and desires certain conditions placed on the sale. Newman will accept anything over a certain price and may be willing to help finance the purchase for a higher price. In negotiation Nelson and Newman attempt to come to an agreement over the price and conditions. When they agree, a sales contract is executed.
