If you’re new to purchasing real estate, or even if you’ve done it in the past, it doesn’t hurt to have a game plan in place during the negotiation process. If you really want a property, and you know what you can afford to pay then you must be able to successfully negotiate a deal that takes your financial situation into consideration.
Carolyn Capalbo, a successful Virginia-based REALTOR, has a number of suggestions for buyers during the negotiation process. In short, Carolyn Capalbo provides buyers with the information necessary to make the most well-informed financial decisions. Let Carolyn Capalbo help you negotiate your way into a new home!
Here are Carolyn Capalbo’s top three negotiation tips for buyers:
1.Find out why your seller is selling – Is your seller moving because of a job relocation? Is the seller moving because of a divorce or job promotion? The seller’s motivation may provide enough insight for you to make the best decisions when making offers and counter offers. In other words, if the seller is moving because of a job relocation, or if he or she has an existing contract on another property, then he or she may be in more of a hurry to sell, and therefore may be more willing to negotiate. However, you may have less room to negotiate if the seller is in no rush to move.
2. If the seller is unwilling to negotiate, don’t waste your time – If, after the first offer, the seller is unwilling to play ball when it comes to negotiations, it is simply best to move on. There is very little you can do to convince a seller to enter negotiations if they are unwilling to do so.
3. Don’t waste your time (and the seller’s time) by making low-ball offers – Don’t expect to come into negotiations with a low-ball offer and no basis for that offer. If homes in the neighborhood are selling for $150,000, for example, and you put in an offer for $100,000, don’t expect a warm response from the seller. Instead, make a fair offer and go from there; anything else is simply an insult and a waste of everyone’s time.