When a home is for sale and an offer is put on that home, who has the upper hand? The buyer? The seller? In today's market, buyers do tend to have the advantage however, as the market stabilizes and grows, buyers and sellers will find themselves on common ground.
How To Negotiate The Best Deal:
- Be realistic of your needs and the market. Never assume the seller is desperate to sell and know the value of the home. Smart buyers are informed, know what size home they need, how much they can afford, and negotiate fairly.
- When you make an offer, using the recent comparable sales is your best bargaining tool. Even in this market, if you insult the seller, they won’t want to deal with you. Most sellers know what the last home in their neighborhood sold for and so should you.
- Find out as much as you can about the seller’s motivation. New job, retirement, divorce, wants to move up but only if he gets the right price.
- How much does the seller owe? A Realtor®, such as myself, can research the figures and help determine if you're negotiating with an owner who owes more than the house is worth or one who has a lot of equity.
- Don't be afraid to ask for additional items. A seller may be willing to pay for a new kitchen appliance or washer and dryer just to get the deal to close. Even asking the sellers to pay for a one-year home warranty is a good idea. Just be reasonable in your requests and don't ask for anything that requires quality workmanship as they may not do it the way you want.
- Remember, this is most likely a long-term investment. Most people stay in a home for at least five years. Getting caught up in a $1,000 - $3,000 price difference isn't worth the headache of losing the home and having to start your search all over again.
And always remember, you want to work with a Realtor® who has your best interests in mind and who will work tirelessly to get you the best deal. I'm that Realtor® and when you're ready to buy or sell a home, give me a call.
Weichert, Realtors - Media
606 E. Baltimore Pike