Home Buying Negotiating Tips
Home Buying Negotiating
Tips
When it comes to buying a home,
the ability and willingness to negotiate is a must for both the buyer and
seller. In general, sellers ask for more than they are actually
willing to accept and buyers offer less than they are willing to pay.
The trick is to find the perfect balance so that you, as a buyer, feel
good about the purchase price without leaving the seller feeling
insulted.
Know Your Market
Real estate is a business
that either favors the buyer or seller, hence the terms buyer's market and
seller's market. When negotiating a purchase price, it's important
to know which of the two you are in. As the buyer, you will have
the best chance at a successful negotiation if you research the price of other
comparable homes in the area before making an offer.
Make It Personal
When you make an offer,
the seller will see nothing more than a piece of paper with some numbers on it
that represent the price you are willing to pay. If you really
want the seller to take your offer to heart, let them know why you want to buy
the home. You can do this by preparing a handwritten letter
expressing your interest and the reasons you fell in love with their
house. If you have a family, tell them about everyone who will be
living in the home. Let them get to know you and allow them to
picture the happiness that you can bring to their house. Believe
it or not, some sellers actually look at the process like finding a good home
for a lost puppy. They want quality people to buy their home, so
do your best to show them that you are sincere.
Nobody Likes
Rejection
Not every offer is
accepted, so don't be disheartened if your first offer isn't a winner.
In some cases, the seller will make a counteroffer for your
consideration. Have you ever heard the old saying, “never take the
first offer?” The same is true in real estate, and almost every
seller knows it. Your first offer is likely to be less than you
are actually willing to pay, which leaves you some bargaining room.
Why Your Offer May Not
Be Accepted
There are a number of
reasons why a seller may choose to reject an offer, including a feeling that the
offer was just too low, the house is newly listed on the market or another offer
may be higher than the one you created. In some cases, sellers may
also reject an offer that includes owner financing or other requests that are
impossible to meet. One example may be an offer that requires the
house be available within a certain amount of time. Most contracts
require that the seller move out within 30 days, but anything less would require
negotiation.
Read The Fine
Print
Before you sign anything
relating to a real estate transaction, make sure that you read over every detail
of the agreement. If you have any questions, ask a REALTOR®. After all, real
estate is their business and they are there to help you through every step.
Bold Real Estate Group is well
prepared to assist you in reaching your real estate objectives. If you are
ready to buy or rent, you can contact us at 772-224-1634 or by email at
floridagreathomes@comcast.net You may also visit our company Web
site at www.BoldRealEstateGroup.com for additional
information on all the real estate services we offer.