Be curious. Understanding the seller’s priorities can uncover opportunities for compromise. 4. Stay Focused on the Goal It’s easy to get bogged down in minor details. Keep your eyes on the prize: securing the home at a price you’re comfortable with.
Avoiding Common Negotiation Pitfalls
Negotiating can be intense, but staying calm and strategic will serve you well. Here are some common mistakes to avoid: • Don’t be rude or overly critical. Insulting the home or pointing out flaws unnecessarily can sour negotiations. • Don’t reveal too much. Expressing excessive enthusiasm may lead the seller to push for a higher price. • Don’t overreach. Know your financial limits and stick to them. • Don’t skip due diligence. Bid with room to negotiate repairs after inspections, but don’t expect sellers to accept low offers based solely on potential issues. • Don’t rush to sign. Review all contract terms carefully to ensure you understand your commitments. Multiple Offers: Standing Out in a Competitive Market In a seller’s market, competition is fierce. Here’s how to make your offer stand out: • Get Pre-Approved. A mortgage pre-approval shows sellers you’re serious and financially ready. • Offer a Strong Price. Lowball offers are less likely to be considered in competitive markets. • Minimize Contingencies. Keep your offer clean while retaining necessary protections, like a home inspection. • Make a Larger Deposit. A substantial earnest money
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