When purchasing a new home, everyone wants to think they got a good deal. But nine out of 10 times, a seller will not settle for $20,000 below their selling price. So how do you negotiate for the best deal possible? By following our tips for negotiating your purchase!
Tip #1: A Quick Uptake
Many people want to take a few days to think about the offer but timing matters. It is critical for buyers to respond quickly to counteroffers. The longer you delay, the more time another buyer has to step in and to either create a bidding war or for a seller to stop negotiations in favor of someone with bigger pockets and no negotiations. A bidding war could raise the price so you end up paying more than you’d want for your house. So, be quick with your counteroffers and make sure not to include terms that could be a deal breaker.
Tip #2: Don’t Contact the Seller
When we say don’t contact them, we mean it! If you want to ask or tell the seller something, it is important to go through your real estate agent. It may seem inefficient but it could save time and a lost sale in the long run. You hired an agent for a reason: to convey your interest to other parties. If you want to change something in your agreement with the seller, it could create a problem with your lender. With a Simply Referable agent on your side, we can help you see these red flags and help you get through them. Using an agent to communicate can also help you avoid offending someone or misspeaking during the process.
Tip #3: Use the Information Available
It is important to use the information that is available. Looking at the comparative houses can mean you save money during the negotiations. But the comps aren’t the only way you can win a house on your terms. Knowing about the other party’s motivation to sell can work in your favor. By keeping an open mind and timeline, your dream home will be under contract in no time!
With these tips and a Simply Referable real estate agent to help you with negotiating, you will be in your new home in no time!
Negotiating for a Home with Simply Referable
The small team of realtors at Simply Referable is deeply focused on creating a memorable selling experience for you and your family. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.