DO FOCUS ON THE MAIN THIN N THE MAIN THINGS. Remember the main goal of the negotiations, which is to buy the target home for an amount that you can afford and are willing to pay, and if you get the home for less than you were willing to pay, you have exceeded your goal. It’s important to understand that during negotiations, both the buyer and the seller might forget the final goal: to buy and sell! It’s easy for either party or both parties, to get carried away in their negotiation “battle.” Keep your eyes on the prize, but, at the same time, be realistic in your expectations. DON’T GET CAUGHT UP IN MIN UGHT UP IN MINOR DETAILS. AILS. Both buyers and sellers can fall victim to getting caught up in negotiating on small, minor details, and even in the negotiation process itself. Remember to keep your eye on the ball. Remember your main goal (get the house!). Instead of getting caught up in details, come to an agreement with the seller on the main/major points before moving on to smaller items. DO CONSIDER THE MARKE ER THE MARKET FOR STRATEGY. Your agent will know this, but your negotiating strategy and tactics will vary, depending on the current housing market. For example, in a buyer’s market (where there are more houses for sale than buyers looking), you automatically and naturally have the advantage, with possibilities to succeed and not only get your dream home, but also get it for a great deal. In a buyer’s market, you could make a less-than-reasonable offer (well below asking price), demand some home improvements as a contingency, request a better closing date, and even ask that all closing fees are paid by the seller. Depending on how long the home has been languishing on the market, and how desperate the seller is to sell, there’s a good chance the seller would accept such an offer, even with all those stipulations you’ve put in place. However, in a seller’s market (where there are fewer homes available for sale, and more people looking to buy than selling),
118
Powered by FlippingBook