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Home Buying: Negotiation Tactics

By Tara Millar

Say for instance, you’re in the market for real estate and after searching through homes purchasable, you discover this totally fantastic house (which appear to be it stepped right out of the dreams). Bargaining techniques will either make or break your odds of closing the transaction with the seller. Listed here are a couple of tips that can come useful when negotiating with a customer for the sale of a house.

1. Learn more regarding the local market – Let’s take the example earlier about homes for sale. Simply because you observe on the news broadcast that it’s in general a buyer’s market in the country doesn’t mean that it is also a buyer’s market in , or in the particular neighborhood where you want to obtain a home. Real estate markets don’t always work that way. It’s best to get to recognize the local market of the place where you wish to purchase a house. Using this method you’ll have an idea of when to push for negotiations and when to acknowledge the signs that pushing isn’t an effective idea. Generally, a buyer’s market

2. Learn something on the subject of why the home is being offered – Asking around for advice, like asking the neighbors, can give you data about the situation of the seller and why they are selling their home. Some people are not in too much of a rush to sell their house for the reason that their situation doesn’t call for it. Let’s say, they’re just considering moving to a beach home for retirement, or they want to move up to a new home. Many people have circumstances that are more urgent. This is not to mention that you’re going to reap the benefits of their urgent necessity to sell, but this could grant you an indication on how keen they are to negotiate things with you.

3. Don’t let on about your exact budget, your individual situation, or your feelings about the home – When talking to a seller’s real estate representatives, it isn’t recommended to let on about the highest budget that you are planning out for the house. It’s best to give a figure that’s lower than the maximum expenditure limit you set for yourself to give you some breathing room for the negotiations. It’s also not good to let on a lot that you’re totally crazy concerning the house. This is not to say that you’re going to criticize everything about the house either, but keep your observations about it to a minimum, and ask more questions. Ask about the asking price, how long did the owners have the house for, what type of restorations did they do on the house and such.

4. Don’t snap up a house merely because you’re afraid other people may buy it before you do – Don’t look as if impatient to generate a proposal. Not surprisingly, there’s always the danger that somebody else may make a suggestion before you do, nonetheless it’s better than jumping into something you’re not really a hundred percent positive about.

5. Propose low and let the negotiations work its way up – Based on the case, principally those mentioned above, it is best to suggest lower than the list price and let the negotiations work its way up if they will. However, if you give a figure of a low number, you have to be certain that one could at least defend why you’re proposing that low.

Another great article by Guelph Homes

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Article Citation
MLA Style Citation:
Millar, Tara "Home Buying: Negotiation Tactics." Home Buying: Negotiation Tactics. 9 Jul. 2010. 29 Oct 2014 <>.

APA Style Citation:
Millar, T (2010, July 9). Home Buying: Negotiation Tactics. Retrieved October 29, 2014, from

Chicago Style Citation:
Millar, Tara "Home Buying: Negotiation Tactics"

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