Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that theyâll accept, and if youâre not even approaching the low end of that range, they wonât even consider the offer.
Incremental negotiations: Donât continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
âTake it or leave itâ: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that youâre unwilling to budge. Even if itâs true, donât make a show of it.
Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that werenât included in the listing. Try to avoid giving the seller a reason to build up resentment and think that youâre being greedy.
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The factors that go into purchasing a home are as varied and dive
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