However, paying closing costs in many situations can still be a smart way to close a deal. It can mean the difference in your buyer choosing to go into debt for your home rather than a home down the street. It’s just a matter of asking a fair price for your outstanding home from the very beginning.
A FINAL TIP: How to Immediately Gain the Upper Hand in Any Negotiation
If you ever feel like you are getting “taken advantage of ” in any negotiation, do this. Tell the buyer that you’re changing your mind. Yes, that’s right. You’re taking your home off the market. The dynamics of the negotiations will change right away. The buyer will now have to sell you on why you should sell the home to them. In addition, they will have to make a sweet offer to have any chance of you accepting it. This doesn’t mean you should use this tactic in every negotiation. However, this is a very effective strategy when you feel you’re losing the negotiation. If the buyer doesn’t buy the house, you can always change your mind and continue to try and sell it. After all, lying, cheating, and stealing are wrong. But there’s nothing wrong with changing your mind!
POINTS TO REMEMB O REMEMBER:
• By rejecting a lukewarm offer, you encourage competition and higher bidding. • Consider rejecting a low offer if your house is newly listed or you’re planning an open house soon. • Refusing to accept bids until after an open house could create a bidding war in your favor.
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