Worried About Paying Too Much For Your Next Home in Naples Key West Florida? Negotiating the sale of a property is perhaps the best tool a Realtor can offer a client and it all starts during the listing interview.
It’s amazing, even given the fact I have been in the business 20 years, how people choose an agent to work with for their sale or purchase. It’s more likely luck or convenience an agent gets in front of their customers, not skill or experience.
Before reading futher, make sure you contact Team Paradise for a list of questions to ask any agent prior to choosing to work with them…it’s free and it’s very informative.
Nearly everyone seems to think the natural way to start negotiating the buying process is to offer less than the asking price for the property...these days, way less! No one wants to pay more than its value regardless of the product. When you buy bananas for 49 cents a pound at one store and see them for 39 cents a pound at another store, it's not the ten cent difference as much as it is about overpaying.
However, instead of the price, a buyer could negotiate condition, timing or terms. A few thousand dollars off the price may not make much difference in the monthly payments but it might make a big difference if it was negotiated in one of the other areas when more important concerns are at stake.
Consider that a buyer with just enough available funds for down payment and closing costs will have to live in a home exactly the way it is for some time. They may not be able to make the changes that would really make it feel like home until they've saved more money. If that buyer finds a home that needs $10,000 worth of improvements and the seller would lower the price by that amount. Financing those improvements with a separate bank loan will result in higher payments due to a higher interest rate and shorter term than your mortgage. The buyer might instead consider offering full price and asking the seller to make the improvements which wouldl result in lower monthly payments based on today's low mortgage rates and 30 year term. Another alternative is to negotiate with the seller to pay your closing costs so you'd have the cash to make the improvements. Paying full price may cause the seller to consider concessions regarding condition or terms which can be balanced to affect the value of the property.
Buyers can and should negotiate to acquire the home that meets their needs at the lowest possible cost of housing.
Team Paradise offers nearly 50 years of combined skills and experience in local real estate listings and sale. That combined with the reputation of John R Wood REALTORS is an unbeatable choice when considering working with a real estate professional.
Worried About Paying Too Much For Your Next Home In Naples Key West Florida?