When it comes to buying a home, chances are you never expect to pay the asking price; unfortunately, sometimes, you may end up in a bidding war, but for the most part, you will probably do your best to negotiate the home seller down from their original asking price.
That said, here are three great negotiation strategies for homebuyers that will help you along your way when you finally find the house you want to call home.
Negotiation strategies for homebuyers #1
Take the personal route
When you submit your offer to the seller, attach an introduction letter that stipulates anything positive about you and the home. Talk about what your job is, what you appreciate about the area the home is in, what you like about what they’ve done with the place, such as landscaping or the renovations.
This will help to make the seller relate to you, as they want to sell their home to someone who will care about the home and whom they like.
Negotiation strategies for homebuyers #2
But don’t get too personal
It’s one thing to write about what you love about the seller’s home, it’s quite another to bash the home in an effort to get a better deal. When trying to negotiate, don’t badmouth the home or the seller will certainly resist any attempt you have to negotiate them down.
Keep in mind that people will negotiate the sale of their home based on emotion so your objective is to show them that you will take care of the place and that you can only afford to pay so much.
You won’t be doing yourself any favors by bashing the home, so avoid this route.
Negotiation strategies for homebuyers #3
Make it about you
If you want to go at the seller with a lower offer than they are asking, your best bet would be to inform the seller that the amount you are is simply what you can afford and that you are not trying to offend them in any way.
Inform them that you understand their situation and wanted to give them the offer on the off-chance that they would be flexible on their asking price. Even if they don’t come down to your offering price off the bat, if they don’t have people beating down their doors to buy their home,, chances are they will revisit your offer.
Keep in mind, however, that the seller is allowed to entertain and even accept other offers while they are negotiating with you, so don’t take too long to settle on a price.
If you plan on buying or selling a home, visit ComFree.com today.