Keep personal information to yourself
Conversely, information could be used to your detriment. Information about your mortgage, size of down payment, move-in deadline, or circumstances for buying, could be negotiating factors. While you want Carol and Kelley to know these details, don’t reveal any of this information to the seller.
Exercise your negotiating skills
Even if you prefer not to haggle, it’s worth it, especially when it’s your home and your future. Most people expect to haggle over the price. That’s often why the price is set a bit higher than the actual selling price. There is always room for negotiation. If you want to get the best home possible for the least amount of money, then negotiation is the only way to get a good deal.
During negotiations, keep your emotions in tact
In certain situations, emotion could cost you money. If you let the seller know how interested you are in the property, this might be seen as a financial opportunity. Recognizing that you are highly motivated, you could an easier target for a higher price. If you absolutely love the home, keep it to yourself. This is a definite advantage of working with a professional Realtor. Trained to be non-emotional, Carol and Kelley can ensure you get the best price.
Ensure the deal is right before you sign
While you definitely want to move quickly, once you’ve made the decision to purchase, you don’t want to cave in to pressure for a quick close. Someone who is trying to pressure you into buying a home is doing so for a reason. This could involve money, or a multitude of other reasons.
Avoid bidding wars
In some cases, the seller’s Realtor may use scare tactics to rush the sale or increase the price. Falling for this trap could cost you money. If there is another buyer, or some other reason this pressure is being applied, whoever wins also loses because they overpay. If there really isn’t another buyer, then it’s likely that the deal with fall through.
Insist on a copy of the property disclosure statement
Legally, sellers must disclose all known material defects of a property. This information would be stated in the Property Disclosure Statement. Ensure you read this document carefully before removing the conditions on your offer.
Be aware of your hidden costs
There is more to a home than simply the mortgage. You will be responsible for other items including mortgage insurance, appraisal fees, legal fees, inspection fees, transfer taxes, title insurance, inspections, etc. Carol and Kelley can give you a good idea of the costs associated with buying a home that are beyond the final negotiated price of your home. |