Shelhee Gal | David Elan - THE SECRETS EVERY HOME BUYER NEEDS TO KNOW

The goal of your negotiation is to buy a house for money you’re willing to pay, and if you get it for less than you were willing to pay, you have exceeded your goal. Decide upon the highest maximum amount that you can afford. Wether you pay the asking or less or times more than the asking price, always make sure that you can afford the cost of the house. Depending on what kind of market you’re in, strategy and tactics will vary. In a buyer’s market (i.e., there are more houses on the market than buyers looking), you have more possibilities to succeed. You can make a reasonable less than asking price offer, request for some house improvements, a better closing date, and possible other benefits to be paid by the owner. In a seller’s market (i.e., there are fewer houses available, with more people looking than selling), you have less leverage, as you’re not the only one bidding for the home. You’re most likely to succeed by offering a seller’s price or higher. If they don’t get it from you, they will easily receive from another buyer. It’s nice to find the reasons that the owners are selling the house. Do they want to sell it because they’re moving for a new job? Are they moving soon and thus “motivated sellers?” Has the property price been reduced due to an extensive time on the market? In most cases, it’s likely they’ll want to sell quickly. You can stand your ground if they have a counteroffer. If the house has been listed several times with a stable price, that’s a sign the homeowners are taking their time and might be waiting for their desired price. It’s vital to understand that both the buyer and the seller may forget the final goal: to buy and to sell. Sometimes, the parties get carried away in a battle of negotiating. Lock your eyes on the ball, but at the same time, be realistic in your expectations of the

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