If the house has been listed several times with a stable price, that’s a sign the homeowners are taking their time and might be waiting for the highest offer. Some sellers are unreasonable and are unwilling to negotiate. It’s vital to understand that both the buyer and the seller may forget the final goal: to buy and to sell. Sometimes, the parties get carried away in a battle of negotiating. Lock your eyes on the ball, but at the same time, be realistic in your expectations of the situation.
The following tactics will help you to stay focused:
• Use the “middleman.” Your real estate agent should be your middleman to negotiate with your seller’s representative. Using him as a buffer will save you time and aggravation. He may also provide useful information concerning the sellers and their intentions, which the other party will not disclose to you. • Use your Loan Officer. You have your preapproval letter, which was included in the offer. In most cases, your loan officer will be willing to make a call on your behalf to the listing side to reiterate your financing qualifications and ensure a smooth transaction should your offer be accepted. This is one of the perks of working with a local lender vs an online mortgage company. Sellers and agents prefer to work with local, known mortgage representatives. • Be curious. Asking questions may reveal valuable information from the seller. It might help to find the reasoning behind the house sale. This could be your priceless leverage, if you don’t know it yet. • Consider compromise. Be ready to give away something
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