Consider the condition of comparable homes, as that could affect your price quote. • Don’t hide the fact that you did some research. It will prove to the seller (and listing agent) that you did your homework and are coming to the negotiating table armed with knowledge; this will actually strengthen your bargaining position. • Understand your purchase offer can evoke usually one of three responses: 1) the seller accepts your offer as is; 2) the seller makes a counteroffer demanding certain changes; 3) the seller outright rejects your offer and makes a counter proposal. Knowing how to negotiate and having a good buyer’s agent on your side can help you get the best possible deal, and deal with the seller’s response effectively and strategically. • Know the maximum amount you’re prepared to spend on this home. Know your limits and stick to them. • Set your emotions aside during the negotiation process. Remember it’s a professional business transaction and nothing personal.
Step #11. Begin the Closing Process
After negotiations comes the closing process. This step will talk about beginning the process, and Step #12 will talk about closing the process. What exactly is the closing process? It involves everything needed to make the home sale and home purchase complete, legal, and finalized. The closing process is meant to bring all the parties involved to the same platform. The main goal of the closing process is to transfer the title of the property from the former owner (seller) to the new homeowner (buyer, or you). 137
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