Home Buyer Tips ~ #5 - Negotiation can mean EVERYONE wins!

Time for Tip #5 of the Top 10 Tips To Take the Stress Out of Homebuying:

5. Don't try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to "win" by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

I've seen it happen on both sides. A buyer will lose the house they really want because they feel the sellers should come down more...and a seller will lose a buyer because the seller lets their ego get in the way. The thing is, neither side knows the others' bottom...or top...line. It's like a poker game!

Whereas a buyer may think the seller is being stubborn or ‘just plain mean', the seller may have a mortgage (or 2) that needs to be taken care of and cannot come down any further. And the seller may think the buyer just wants to ‘low ball' and take advantage of them, but that buyer may already be too close to the limit of what they can comfortably afford to pay. That's where a good realtor comes in handy... to help guide you towards the properties you can truly afford. But that's for another post!

Buyers need to remember that the seller's realtor is presenting the same statistics the buyer's agent is providing. The market is what it is...and a house is "worth" what a ready, willing and able buyer will pay for it.

Also, there are usually other items that can be negotiated besides the price. Closing dates and seller's help with closing costs also figure into the equation. And once a price has been agreed upon, remember you still have to contend with the Home Inspection, which usually brings another opportunity to negotiate.

Yes, everybody wants to "play the game". But there comes a time when both sides have to search their souls, find their true motivation and put together a deal where everyone feels like a winner!

Home Buyer Tip #1

Home Buyer Tip #2

Home Buyer Tip #3

Home Buyer Tip #4

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