Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
“Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
Author:Randi Dickman Phone: 732-693-6182 Dated: February 5th 2018 Views: 3 About Randi: ...
View our latest blog posts in your RSS reader. Click here to access.
Tracy’s Bio: I grew up in Cedar Grove, NJ and left in 1977 to go to college at Monmouth College (now University) in West Long Branch. I landed a job as a programmer in that area and ended up staying in Monmouth County.
After working as a programmer, then starting a web development business to stay home with the kids, I entered the real estate business in 2004. First as an investor and then in 2007 decided to go full time as a real estate agent.
Married to Tim Gibson, since 1980, we have five daughters, who are leaving the nest rapidly.
Tim’s Bio: I grew up in Croydon, PA, a suburb of Philadelphia. In 1979, landed a job in Information Technologies in West Long Branch, NJ where I met Tracy. We married the next year and went on to raise our five beautiful daughters. At the end of 2015, a layoff, lead me to join Tracy in the real estate business.
Our business mission is to help as many people, as possible, to manage their greatest asset, their home. While serving them with integrity, skill, and care.