Negotiation is an extremely important element of buying a home and it happens to be one of the areas in which The Lesti Team excels. The team’s many years of combined real estate experience and negotiation skills combine to provide clients an edge in every transaction and lead to the closing of escrow.
Note: 4 things can be of major benefit to your bargaining position. Those come into play if you are:
- an all-cash buyer
- preapproved for a mortgage
- free of a home that needs to be sold before you can buy
- able and willing to make an offer for an amount above the asking price
Beyond those 4 things, here are some basic suggestions that will help you with your offer:
- Decide on your absolute maximum offering price prior to the beginning of negotiations.
- Add some conditions and contingencies to the offer that you really consider optional so you have some bargaining points without losing important items.
- Have fallback plans in the form of alternative homes. Knowing you have options will help you maintain objectivity and comfortable emotions during negotiations.
- Ascertain the seller’s needs. Perhaps you can offer to rent back to the seller for a brief period if his or her new home won’t be available by the closing date.