Many homebuyers and sellers think they can better negotiate than the other party in the transaction. This often leads to a frazzled and protracted negotiation for a property, which leaves tempers exhausted and sore feelings.
The best way to negotiate is to sit back and think about what you really want to get out of the deal.
Sellers, you should think about the minimum amount you'd be happy to take for your property. Think about timing, what fixtures you want to take with you, and whether or not you'll negotiate if the inspector finds problems with your home.
Buyers, you should think about the maximum amount you'd be willing to pay for a particular property. Think about when you want to move, and if you'd be willing to trade a longer closing time for a lower purchase price.
Unfortunately, negotiations don't always work out the way you hope they will. The one thing the good negotiators know is when to throw in the towel.
Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.
How to Win the Bidding War
If more than one party is interested in bidding on a single home, the result
could be a bidding war. Meg Crane offers some tips to make your offer shine,
so you'll come out a winner.
Unless you've recently won the lottery, it's likely you'll
be getting a loan to pay for your new home. Here's
everything you need to know to get your application
approved. From Margaret Crane, contributor to
Newsweek, The New York Times and Money magazine
and author of Successful Homebuilding and Remodeling:
Real-Life Advice on Getting the House You Want without
the Roof (or Sky) Falling In.
There's little chance you'll have a successful closing
unless all of the details are in place. Here's some
information to help you get from offer to closing without
missing a beat. From Barbara Buchholz, former editor of
House & Garden Guides Magazine and co-author of Porch
Style and the New Homeowner's Handbook.
For most, making an offer for a home is the most
stressful part of the process. The information you'll find
here will help you figure out everything from how much a
piece of real estate is worth to how to win a bidding war.
From Margaret Crane, contributor to Newsweek, The
New York Times and Money magazine and author of
Successful Homebuilding and Remodeling: Real-Life
Advice on Getting the House You Want without the Roof (or
Sky) Falling In.
