June 20, 2024


Mad about real estate

Get a Good Home Price by Negotiating

All of you who plan on buying a new home may agree that it would be great if we could drive down the street and find an owner of a house, who is more than willing to sell their home to the first interested buyer. This means that the process of home buying is smoother than ever and that we also get a good deal. Unfortunately, this is not the way it works.

During a sale of a home, there is normally two informed parties who are involved and want to make sure they get what is best for them. In a balanced housing market, the seller will no doubt have other buyers who are interested and if you really want this particular house, you must know how to negotiate. The following tips will guide you on how to get the best deal on a home.

Keep a united front: It may be that there are several people involved, especially in the buyer’s side of things. For instance, it could be a husband and a wife, real estate agent, parents or friends; so it is important that everyone involved become united when it comes to facing the seller.  Here is a good example; the husband thinks the house is the best thing since sliced bread, while on the other hand; his wife is not exactly thrilled about it. If this is clear to the seller, he/she may take the chance and exploit the situation.

Things are not always what they seem: Statements like “Price Firm” and “2{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} bonus for contract this week” should be taken at face value. Everything that is said will not always be a fact.

Ego: It would not be a good idea to let your ego get involved during a negotiation. In some cases, buyers will include a note along with the offer, saying that their home is not worth their asking price and highlights mishaps of the home.

What you should do instead, is make compliments on the house and the décor, along with the lawn and garden. You may want to take it a step further and also compliment their children and pets. These will have effects, in establishing the price of the market data. Be willing, too, to let go of some of the requests you may have and stand firm with the terms which are important to you.

Have no fear: There is no need to reveal everything about yourself; otherwise you might expose your weakness. Things that may do you disservice are: stating that you need to find a home close to work, your kids need to start school or you are in the midst of a divorce.  During negotiations, you should present yourself as a buyer who is confident and can be trusted.

Build trust: This is a hard one since trust is the most vital factor when it comes to getting what you want. It is understandable that people do not trust each other upon first meeting, especially when there is money at stake.

It is very crucial that you quickly establish good rapport with the agents and sellers. Let them know that you are reasonable and a responsible person to do business with.  You can accomplish this by finding common ground.  Search for any common interest and if you are sent a counteroffer, be sure to respond in a timely manner.