Buyers do not ....out negotiate yourself!

 Buyers do not out negotiate yourself! Don't get greedy. Don't pay more for a home because of a "small" incentive that you can get yourself later.  Go for the bucks that you can save. 

When you are out there looking at homes in the San Joaquin, Stanislaus, Alameda, Contra Costa counties and the surrounding areas, and you finally find the right home, this is the time to slow down and really think about your offer.  Pay special attention to counter offers that the seller offers and what you counter back.  In other words, be careful to not out negotiate yourself.

Tip: If the seller offer the incentive or deal or object to you.... it is probably invaluable to them.  However, if it is something you want, it suddenly becomes valuable to the seller.  So pay close attention to body language if you are present with the seller and / or language in the seller's counter if you negotiating on paper.  If it is going to hold up the sale.... best thing is to let it go.

Tip 2: Do not fall asleep while negotiating, this is one of the most important parts of the purchase.  Be alert and get what you want in the house and "get the biggest bang for your buck".  Staying awake will help assure that you walk away from the closing table with no only the home that you wanted but with a few extras (granite countertops, wood floors, paid less to none on the closing cost and got the house for way lower than the list price)!  It will set off the party!

Ask yourself:  What would benefit you more? 

What if the seller tells you they will throw in a flat screen TVor entertainment center, wine cooler (probably because they do not want to take it off the wall) and they are planning to upgrade when they get into their new home.  What would benefit you more? This TV or say .....credit on your closing costs?

What are some of good incentives that would help you in the short and long run? 

Reduced sales price which will save you on interest and payments - long run.

Closing costs - short term at closing and long run in overall savings

HOA - Homeowners Associates fees - say pay it for 6 months or a year! Short and long term value

A few months of mortgage payments paid for you - WOW! This would be great short and long term savings.  Gives you time to save money that you have to pay out -- puts you ahead of the game!

Lower the sales price !!!! This will be short term to lower the fees and cost of closing and a long term because you will end up payment less on your taxes and insurance and interest.  This is the best of the incentives.

This is true with your financing as well, NO option-ARM, no teasers, insist on a fixed mortgage payment and keep your interest rates low.  Do smart financing, know what you are getting into.

 You do the math before you buy!

For free market evaluation of your home visit http://www.motheranddaughterrealty.com/

Check out my Mother and Daughter Blog for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team and we also focus in Short Sales and the Pre-Foreclosure process.  Our consultations are free.  Our aggressive marketing plan includes progressive online listing advertising.  If you are thinking of selling or buying a home in Northern California: Central Valley (San Joaquin/Stanislaus Counties), East Bay (Alameda, Contra Costa Counties) and would like a free Home Seller's or Home Buyer's Handbook, please call us at Perfect Financial Solutions 866-750-8282 or direct 510-284-7721 or email at brooksrm2042@aol.com

 HAPPY and SAFE HOLIDAY SEASON to you and your family & Friends!
the Mother and Daughter Real Estate Team ~ Short Sale Specialists

Perfect Financial Solutions - We care about our clients Real Estate needs
Tel.: 866-750-8282
Fax: 209-879-4601
http://www.motheranddaughterrealty.com
 
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16 Comments on Buyers do not ....out negotiate yourself!

Very well written entry! THere are a ton of incentives out there for people to buy that have nothing to do with lowering the price of the property. Alot of peopl also add thier closing costs to their homeloan also, another big no no.

I think the simpler you keep the buying the better it is.

12/27/2007 05:40 AM by Luke Constantino (RE/MAX Professionals)


Rosemary, I'm glad you and your daughter are in California and me and my daughter are in Mississippi.:-)

12/27/2007 06:27 AM by Suzi Gravenstuk|Independent Broker| License # 17787|MGC Realty, LLC (MGC Realty, LLC)


Great blog and super tips. Sometimes first time home buyers do get caught up in the little incentives and details in negotiating, its our jobs as realtors to help them see past all that.

12/27/2007 07:19 AM by Orlando & Lake Mary Real Estate Expert, Heather Joubran (RE/MAX Central Realty)


This is excellent buyers' advice. It's important to keep a cool head during negotiations.  

12/27/2007 07:30 AM by Rosario Lewis ~ DDR Realty, Orange County, NY (DDR Realty)


Great post, we need to make sure that we help our buyers weigh all of the options.   Interest rate buydowns or points are another way to save the buyer money.

12/27/2007 08:13 AM by Jeff Payne, Real Estate in Panama City, FL (The Payne Group at Keller Williams Success Realty)


Wise words and advice from a wise person.

Thanks Rosemary

Tom Braatz

12/27/2007 09:13 AM by Tom Braatz, South Eastern Wisconsin (Tom Braatz)


Luke ~ Thank you.  I appreciate that tip.  I agree if the buyers keep this mindset on what they really want out of the deal -- it will help them keep cool.

Happy New Year.

12/27/2007 10:32 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Suzi ~ I hope that you and your daughter enjoy working together as much as me and mine do.  We both wish you and your daughter much success and pleasure this coming year.  I find it a blessing to have my daughter as my partner.

12/27/2007 10:33 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Heather ~ So true.  I'm spending this "slow" time in getting back to basics and trying to reach my buyers and sellers that read AR!

12/27/2007 10:34 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Rosario ~ I so appreciate you stopping by.  Thanks.  Buyers seem to forget what their bottomline is from time time during the process.  We agents have to keep them cool.

12/27/2007 10:35 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Jeff ~ Weigh out the options, do the math.... and thank you for your suggestion of buydown that 's a good one.

12/27/2007 12:20 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Tom ~ I am so glad I have a AR buddy like you!  Thank you for the kind words.  I am trying to reach as many buyers in my area and hopefully help others in other areas with some upfront knowledge of how to work a purchase to best of their advantage.  Getting back to basics.

12/27/2007 12:22 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


Rosemary, I was kidding. My daughter is 14 and thinks real estate is boring. However, She tends to have drastic and extreme changes so she may end up being a partner in the grand scheme of things. If there were no age restrictions I would find a way to motivate her now. She is level headed, clear thinking, problem solving, intelligent (other than thinking real estate is boring:-) I hope you know I was kidding. Buyers over this way seem to do well naturally in asking for what they want.

12/27/2007 12:57 PM by Suzi Gravenstuk|Independent Broker| License # 17787|MGC Realty, LLC (MGC Realty, LLC)


Suzi ~ 14! Wow. OK if mine was 14 (again) I'd be asking for advice on how to deal with a teenager!!! Oh my gosh.... I do not want to go there again.  When my daughter was 14 I would never have dreamed that we'd be partners.  But time changes and it gets better. 

I didn't take your comment anyway except I thought you worked with your daughter... I'm slow! smile

Hint: If you let your daughter read some of our posts she will like it I am sure. Make her think its all fun and games.  She'll get hooked and want to learn more and more and then she'll be 18 and ready to go to the real estate world.  good luck and happy New Year.

12/27/2007 02:43 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


I think it is important that we set realistic goals for buyers and let them know that a dent in the fence is not enough reason to lower the price by $10,000 (inside joke)! Great post, important for buyers to have a good understanding of what to ask for when making an offer.

12/27/2007 11:01 PM by D'Adrea Davie (Family Realty Group)


D'Adrea ~ Yeah that joke is funny and it is weird what people look at as important.  It is difficult to educate some buyers on what is important to their deal... but all you do is keep trying to educate them.

12/28/2007 12:35 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)


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Real Estate Agent: Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)
Rosemary Brooks -Mother & Daughter (866)-750-8282
Stockton, CA
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