Getting the best price on a house does NOT always translate into getting the best deal.

Richard I just wrote a blog on having doubts about hiring a Realtor.  One of items I featured especially was the negotiation.  For the buyer getting the offer accepted is one thing but, as you noted there can be reams of paper trying to settle terms.  Like the post.

Ann

Richard, this is great point. There were a few discussions about low-ball offers lately, and it seems that contingencies as parts of the process oftentimes slip out of the discussion. Only the offer price drags attention. Yet the combination of both (price AND contingencies) can work out very well for everybody involved in the end...

I can still see the face of the prospect who lost the home he wanted.  After it closed, he stopped by and said,
"I don't get it.  I offered more than the closing price."  Yes, but the people who got the home offered cash, a quick closing and no concessions from the seller.  It's a no-brainer.

Richard - this is a great post.  I always think of it as "Time, Terms or Tender (money)".  From my software engineering training, we would get 'time, quality or price' and you only get two.  Similarly, the best deal is where you get the two out of three that best fit your buyers goals.  If it's time and tender, they will need to be willing to give in on terms.

nice points... great reminders

Richard, so many of the buyers get hung up on buying a "deal" they lose site of the items you mentioned.

Hi Richard, great post. The clients art of the deal can always be worn with rose colored glasses. We as agents have to know the compete package because deals are not always what they can seem to be. Thanks for sharing.

Hi Richard, great post. The clients art of the deal can always be worn with rose colored glasses. We as agents have to know the compete package because deals are not always what they can seem to be. Thanks for sharing.

Yes Richard, we agree with all your points. Although a seller/and or buyer, may think its price, price, price, there are so many variables in buying and selling real estate that you have to look beyond the price and negotiate the best "DEAL!"

Yes, price is important but so are terms and conditions and a plethora of other details.  Price alone does not tell the complete story.

Whats that old saying Richard, there more than one way to skin a cat?

More pearls of wisdom to live by...there's definitely a life lesson in this post!!! Excellent!

Richard, great post, yet again! If its not in writing here, it really means nothing. And I certainly can't answer that question, will your seller take less. I hate when I get asked that.

Terms were and are still a value to a transaction that were lost in the storm of a false market a few years ago.

The "art of the Deal" is something many consumers do not understand as we do it on a daily basis and our expertise is often overlooked or under valued.

Richard you are so right "The terms and conditions of a transaction are equally as important as the price that is being paid

 

A lot of buyers concentrate on price these days. They are looking for a steal not a deal. Terms can be just as important! Great post Richard as always. :)

Combine the price with the financing terms that some are still being overcharged and it cancels out the good that buyers may have gotten. Buyers make sure that everything is a deal, not just the price.

So true. It is often not the highest price that gets the house in a multiple bidding situation, but the best terms.

Yes, Richard.  I always tell people that sometimes PRICE is the easiest thing to negotiate.  There are so many other moving parts of the deal with individual motivations and needs, sometimes from several other parties.  You've got to work you way through the deal with patience and your eye on the big picture.