Real Estate is Hot right now in Northeast and Central PA! If you’re on the market to buy, you need to be prepared and in a position to negotiate quickly. Read these tips below and take note. For more advise, email firstname.lastname@example.org and we will connect you with a Realtor that specializes in negotiations for buyers.
Tip #1. Be Nice
Simple concept – No one likes rude people – so be nice.
A seller is much more willing to negotiate with someone that is likeable and that did not completely trash the seller’s home.
Tip #2. Use a Professional
How do I make an offer and
write a contract?
How do I make sure there is nothing wrong with the house?
What is an escrow?
How much money do I need for a down payment and closing costs?
A professionally trained Realtor can help with all of that.
Realtors are trained and equipped to handle negotiations for real estate transactions. As a buyer, this typically does not cost you anything.
By using one, it will not only save you time, but will likely save you lots of money. Realtors are able to direct you through and manage the entire transaction process. This includes coordinating communication with lenders, attorney’s, inspectors, and every other facet of buying a home.
Tip #3. Don’t Fall in Love
When you fall in love with a home, you tend to overlook things that shouldn’t be overlooked; and then overspend. Don’t be desperate and don’t be in a hurry. No one ever wants to spend more than they should on a home, but this is especially true for first time home buyers, who will most likely sell their first home within 5 – 10 years. Overspending could mean that they are upside down on the loan when it comes time to sell and won’t have enough money to put down on their first upgrade.
To avoid this situation, you should always play it cool and be willing to walk away, no matter how perfect this home appears to you.
Tip #4. Be Curious
This is probably going to be one of the biggest financial decisions in your life.
Asking questions may reveal some valuable information from the seller that may help you to discover the reason as to why the house is being sold or uncover some flaws with the home.
Same goes with the inspection process. Ask your inspector questions and don’t be afraid to let them know when something goes over your head.
Tip #5. Keep your Eye on the Prize, and Consider Compromise
Remember your main goal: get the house, at the right price.
No home is perfect and without flaws. So if you find that you are stuck negotiating minor details after a home inspection, identify your ‘must haves’ and stick to them, but also had some “wishlist” items you’re willing to give up as part of negotiations.
If you think that you might lose the entire deal, consider the time and cost of the repair you’re negotiating before walking away.
As they say, compromise means that you agreed in the end, but both of you left with a feeling that you backed off.
Tip #6. Put your Shoe on the Other Foot
Take a different look at this situation – imagine you are the seller. How much would you be willing to come down on your offer? At the end of the day, selling/buying a home is a business transaction. Everyone wants a deal, but this contract needs to make sense for both the buyer and seller.
Tip #7. Be Qualified Before Negotiating
You want to buy a home and you’re excited to get started on the search. I get it. But if you don’t have a pre-qualification from a lender, you have zero leverage in negotiations. In fact, most sellers will not even look at an offer without a pre-qual. Contact your local bank and ask for the residential lender. This process will take one or two phone calls, and they don’t have to pull your credit. It will save you many headaches down the road. Make sure you ask about types of loans, closing costs, and down payments.
The best way to get a good
deal when buying Real Estate is to be educated and prepared. Call us today at
Aggressive Realty Home Sales and Rentals (570-213-4245), and we will walk you
through the entire process. You may also perform and save custom home searches
by visiting www.aggressiverealtypa.com.
Aggressive Realty Home Sales and Rentals is a Real Estate Brokerage serving all communities located in Columbia, Luzerne, Montour, Union, Northumberland, and Snyder Counties.