While many areas around the country are experiencing a "buyer's market," you need to exercise caution when offering to purchase at far below asking price. Bargaining is indeed an art, and the last thing you want to do is to insult the sellers.
An unreasonably low offer risks angering the sellers to the point where they won't even make a counter-offer and will not entertain additional offers from you. In general, an offer more than 10% below asking price is not customary and faces possible rejection, but there are ways to proceed with respect when you feel that a lower offer is substantiated.
Sit down with your realtor and look at the comparable sales in the neighborhood and area to see if the asking price is in fact justified. Then make a list of reasons to share with the seller about why your offer is less than asking price; or, strongly consider negotiating other terms of the purchase, such as closing costs or repairs. A reduction on those aspects can still yield great savings.
During the negotiation process it is best if you do not interact with the sellers and let your professional handle all negotiations. Should you find yourself in the presence of the sellers, kindly exhibit proper etiquette and respect. Consult with your Realtor before any meeting to make sure you're both on the same page.
Ultimately, the best way to make your offer with confidence is to realize that there are many attractive homes for sale in your price range. If a seller rejects your offer outright, avail yourself of the other suitable properties on the well-prepared list of possibilities provided by your Realtor.
Understanding real estate dilemmas and their solutions is our business, and we'll happily share our knowledge with you. Why not give us a call at (772) 323-6996 or visit us on the web at www.GabeSanders.com .
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