Hey Buyers... Don't Look Down Now.. But Your Motivation is Showing

By
Real Estate Agent with The Pete Cook Home Group 21483n

 

Lets start out with the fact that it is generally stressful to buy a home and especially your first home. To add to the stress, some of us are helping buyers in a seller's market. 

Showing your urgency and motivation as you negotate an offer may win you the contract but it may leave some of your money on the table. 

Let me explain. When your "love letter" that you submit with your offer mentions you are really committed to the purchase because you have an expiring lease or have to be in town for the start of a job on a certain date, the seller conciously or sub conciously will use that against you in your price and inspection resolution negotations. 

As you negotate an offer or your inspection negotation, keep the seller guessing as to whether or not you really need thier home. In an extreme seller's market you may not be able to appy this advice.

Here a tips when submitting an offer:

1. Be prompt on all negotations, proof your offer and spell correctly.

2. Show your financial stability by talking about your job and by submitting your lender's approval letter with the offer, not two days later. 

3. Skip asking for seller paid closing costs if you can get by without them. 

4. Skip optional contract conditions that you and your agent have decided that you will not need to exercise.

 It is ok to tell them you love the neighborhood and the house, just keep your urgency and needs to yourself. They will see it and it use it in their favor. 

Happy Shopping & Negotiating,

Pete

Posted by

Pete Cook

The Pete Cook Home Group

720-295-7764

pete@thepetecookhomegroup.com

Comments (3)

Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Pete,  Great blog. Great advice.  "Suggested"

Jan 15, 2014 08:41 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Pete, I couldn't agree more.  I don't understand it when buyers want to ask for all kind of stuff they don't need nor really want just so they have something to "negotiate" on.  Clean and simple often gets the job done much quicker and with better results than having the seller muddle through a ton of complicated offer twists.

Jan 15, 2014 08:45 AM
Pete Cook
The Pete Cook Home Group - Denver, CO
Service, Advocacy and Results

Thanks for the feedback. 

Jan 16, 2014 12:01 AM