5 Negotiating Tips for Buying a House

5 Negotiating Tips for Buying a House

In today’s market, negotiating your way into a great buy is the only way to do it.  Certainly there are tricks and tips that- if you follow- will help you arrive at your destination as smooth and favorable as possible.

 

  1. Start Low. A lot of people think, why go back and forth and meet in the middle?  Why not just start and end in the middle?  The reason is because everybody wants to feel like they are getting a deal.  You have to make the seller feel like they are winning by starting lower than you want to pay and working your way up on price.  That give and take allows both sides to feel they are winning in the transaction.  That’s important, because there could be buyer/seller remorse later on if there’s no haggling.  Perception is key, and it will keep everyone in the deal all the way through closing.
  2. Ditch the phone/email and go face–to-face.  Seeing the sellers’ reaction can be a big tell as to what the seller really thinks about your offer.  You are hoping for smiles and them being engaged.  If they are fidgety and looking down or away it most likely means they don’t like your offer.
  3. Shut Up!  After you present your offer, stop talking and wait.  There may be a very awkward silence that can go on for several minutes.  If you start speaking, you will most likely talk yourself out of the sale and the seller will change their mind for whatever reason. Just wait.
  4. Ask for More!  The more you ask for, the more you may have to “give up” in order to get the seller to accept your price.  The key here is to take the negotiation off the price and onto the other things.  If the seller sees you giving up many of the items and making concessions -hopefully they will be more apt to accept your offer of the lower price.
  5. Walk away.  There is a lot of power in saying “NO” or “The deal’s off.”  This tactic works very well, often times sellers feel that if you are going to take the time to bid on their property that they can work you up on your price.  If you say “No, that’s it” and walk away, willing to lose the property and the sale, a lot of times you’ll be surprised by how quickly a seller will scramble to keep you in the deal.

 

Need help Selling, Buying, or with Property Management?  Gulf Pointe Properties would be glad to help!  Please contact Gabe for advice at:  239.825.2234, Gabe@GulfPointeProperties.com  or www.GulfPointeProperties.com   Gabe Mellein is the broker of Gulf Pointe Properties,   He has 8 years experience in the SW Florida Real Estate Market.  He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.

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