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Negotiating With The
Seller
Every negotiation is
different. Price is what most
people think negotiating is all about, but that is rarely the complete story. If a seller has found their dream home and has bought
contingent to the sale of their own, or if they have been transferred in their
job, a fast sale may be just as important as getting top dollar on their
property. Conversely, the seller
may want to retain possession while waiting for a home they have purchased to
close. Finding a buyer who will
rent them the property during their other escrow process may be important enough
to deduct several thousand off the purchase price.
There is no trick in
negotiating. You need to know what
you absolutely have to have from the transaction, and what you are willing to
give. If the property needs repairs
the seller cannot afford to pay for before closing, a buyer willing to negotiate
this point may be able to get a lower price or some other concession.
If the seller needs a fast sale or to retain the property after closing
as a short term rental, this is an opportunity for a buyer to get a lower price
or some other concession.
Many
times these opportunities go to waste. The
reason is simple; the agents don't communicate.
Make certain your agent is asking all the right questions.
A concession that is meaningless to you may be priceless to the
seller.
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