Tips for Negotiating the Best Deal Possible When Buying a House
Getting a good deal on your next home purchase is really not as
difficult as you might think. While you might imagine that getting a
good deal would involve simply stumbling across it, there are actually
some steps that you can take to help improve your chances of finding a
good deal. Making sure that you are as informed as possible can give you
the greatest chances of negotiating the best deal.
First, keep in mind that if you are going to be buying the home with
someone, it is imperative that you maintain a united front throughout
the home buying process. Whether you are buying a home with a spouse,
friend or parent, it is imperative that everyone involved agree on how
they will make their presentation to the seller. While it is quite
common for there to be a disagreement over a home, when it comes to how
you want the sellers to see you, make sure they see one image; not a
Also, it is crucial that you make sure you consider more than just the
face value of the home. While it very well could be true that the
sellers are firm on the price, that may also be a statement that is not
exactly fact. Remember that there is nothing wrong with considering that
the bottom line may not be exactly where it is presented to be. The
simple fact is that you will never know whether a particular offer will
work unless you give it a try.
If you are going to attempt to negotiate a good deal, it will also be
important for you to make sure that you check your ego. When your ego
becomes involved in the negotiating, the chances of driving a good deal
go right out the window. Remember that a negotiation involves give and
take on both parts. You may need to be willing to give up some points or
requests in order to hold onto other points that are most important to
you. It is almost impossible to win every single point in a negotiation
and you should not even try to do so. Decide what is important to you
and then try to focus on those elements.
Also, make a point to be cordial to the sellers. There is no need to
insult their home in order to make it seem as though you should get a
lower price. Take the time to compliment their decorating, gardens or
whatever. Doing so will not drive up the price, but it may put the
sellers in a mood that is more amenable to negotiating.
Always make sure that you work on keeping any weaknesses well concealed.
There is no need to let the sellers know everything. For example,
suppose you are about to close on your own home and you are actually
desperate to find a new home and be able to move into it soon. Or,
perhaps your kids need to start in a new school district soon. Perhaps
you have a locked in interest rate that is about to expire if you do not
find a house soon. Whatever the reason may be, make sure you keep it
well under lock and key. Once that information gets in the hands of the
sellers they will know that they have you at a disadvantage.
Also, never underestimate the value of trust when it comes to
negotiations. When it comes down to getting what you want out of any
negotiation it all comes down to trust. There is generally an assumption
by both parties that the other side will have interests that will
conflict with their own. This is why it is critical to establish a good
rapport with the other side as quickly as possible. You must demonstrate
to the sellers, and their agent, that you will be responsible and
reasonable in the negotiation. The best way to do this is by looking for
common ground, such as common interests, etc. Always make sure that you
respond in a timely fashion. Demonstrate early that you are qualified to
buy the home and that you are not wasting their time. All of these steps
can go a long way toward increasing trust.
Finally, make sure that you have all of the information needed to obtain
the best deal possible, such as information regarding comparable
neighborhood sales, how long the house has been on the market, whether
there have been any price changes, why the seller is moving and how fast
they want to sell.
Negotiating a good deal ultimately comes down to making sure you have
the right information at your disposal and demonstrating to the seller
that you can be trusted and are reasonable.