Buying a home isn’t as simple as forking over a check for the list price. Real estate contracts are not “one size fits all” documents and negotiations can sometimes become intense. There are certain negotiation tips that you should know before entering into the process as a home buyer. These tips will help ensure that you get the best deal and the most bang for your buck.
- Understanding the seller’s motivations can be key to a successful real estate transaction. Is the seller just throwing his home on the market out of curiosity? Or is the family motivated to sell and move for a specific reason, such as a job relocation or switching school systems?
- If you know that a homeowner is urgent to sell, you’ll be in a better position to negotiate.
- Turn to your real estate agent for valuable insight into the seller’s motives.
- Crafty real estate agents can compare notes with the seller’s agent to determine how crucial the sale is. The best real estate agents make offers that financially reflect a seller’s motives.
2. Don’t Play Games – Make a Solid Offer
If you’re grasping for the house of your dreams, less than serious offers can irritate the seller and potentially ruin your chances at closing the deal. Keep yourself in the game by presenting a respectable offer right off the bat.
- It’s a good idea to make it known to the seller that you’re preapproved for a mortgage. Preapproved buyers are seen as serious and are typically preferred by homeowners looking to sell their home.
3. Keep Your Options Open and Be Flexible
If you approach negotiations with the attitude that you are desperate, you’re probably not going to get the best deal possible. The power lies with a home buyer that has lots of housing options in mind and aren’t ever desperate to make a purchase.
- Even if you’ve decided to make an offer on a home, continue your search throughout the process. Always keep your options open.
- Always have a back-up plan in place and don’t make financial compromises that you might later regret.
4. Keep a Level Head
Negotiations can sometimes turn into a heated debate, but it is important to never allow yourself to see the seller as the enemy. If you start to see the seller as an enemy, priorities can quickly shift from landing a great home to defeating the seller in an all-out battle.
- Don’t let heated negotiations cloud your judgment – keep a level head and remember that both parties are trying to reach the common goal of a successful real estate transaction.
- Go ahead and expect that you’re probably not going to have all of your concessions met. However, that doesn’t mean that you’ve lost. If you end up landing a great home at a good price, you’ve already won the battle of becoming a successful homeowner.
Are you looking for a real estate agent that can help you throughout the negotiation process of buying or selling a home? Melissa Clements can answer all of your questions and will do the necessary research to ensure that you are getting the best deal possible on your home. Contact Melissa today and let her help you to negotiate the best deal possible.