I am always amazed at what buyers and sellers are thinking. I mean after being in this craft for nearly 24 years it still settles back to people serving and protecting their own interest. This week I have been negotiating a deal for sellers that are a "non foreclosure, non short sale" and have no mortgage. Originally, just a few years ago the seller paid over $400,000 for the home and then is moving for personal reasons. At Listing time over the Christmas Holidays we had several discussions about pricing and getting the property to fit in this market and they realized that the market would not support getting their original purchase price back. I suggested $329000 to start. They said no, let's start at $339,000. Okay so it is a very nice unit and the first offer came in a few days for $290,000,Cash. $49,000 under the listed asking price. The seller said NO. and would not counter. I encouraged them to at least go back at full price, something... and they still declined. So as we said good bye to that buyer and we moved on to other interested parties. About a couple weeks went by, our buyers came back in a snow storm to take another look and to put in another offer. The buyer now raised their offer to $325,000.00, Cash and to close in 30days with occupancy flexible.
The savvy seller, liking the activity and liking the idea the buyer came back, said, well, we are in snowbird land and won't be back until April how about $327,000 and close the end of April? The buyer said, "okay but we want to have occupancy the day of closing." Done deal. Amazing, here in Livingston County Michigan there is life and action going on at surprising levels.
So the "art of negotiating" is sometimes patient waiting and guiding the process.
PS. One of my goals this year is to blog and to get to know Active Rain better. I appreciate your tips and techniques and welcome your feed back and encouragement.
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