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| Now What? |
| TIME TO DICKER!!! So you have found the home of your dreams and now you want to make it your own. Where do you start? What are you supposed to do now? These questions are common with just about everyone because buying a home is not something the average person does every day. Negotiations are part of the overall process of buying or selling a property and there area basic common sense rules that you may want to brush up on before you jump in. You should develope a good rapport with a real estate Agent whom you have selected from the throngs of those wanting your future business. Don't just jump from one office or Agent to another when you want to check out potential properties. Interview various Agents in their offices and determine how well you get along with them because this will pay off later. You will need to trust and have faith in the guidance of your Agent who will offer you advise based on their own business experience. Once you find a suitable property remember that your Agent is not supposed to tell you what to offer but simply provide the ools, expertise, knowledge and guidance that you need to make your own decisions. However, most of the buyers today will always ask ... "Well, what do you think I should offer?" Listen to the advise, digest the list of comparable sales that may have happened recently and see all of the properties you feel you need to see to get a feel for the values that are in your price range. Armed with this information, you are now well prepared to instruct your Agent what you want to offer on the property you decide to buy and what your plan of the negotiations will be. Down to the Nitty Gritty The reality is, the Buyer wants to buy for as little as possible and the Seller wants to get as much as they can. Negotiating makes it happen. One can assume that, under normal circumstances, the listing price has a built-in buffer for some flexibility and therefore submitting an written offer at less than the listed price is anticipated by the seller. How much less than the listing price will the seller take is the question that can only be answered by trying an offer. Rarely will a Seller stick to their listing price unless of course there are more than one competing offers and then anything goes. PLEASE NOTE: VERBAL - OFFERS OR COUNTER OFFERS ARE A WASTE OF EVERYONES TIME Don't fall into the quick and easy method of throwing out the verbal counter offer because it just sends the whole negotiation off the rails. When an written offer is finally submitted by the prospective Buyer and the Seller decides to make some changes, the original offer is literally dead the second even one letter is altered on the paper. It is crucial that the integrity of all offers and counter offers is maintained by ensuring the accuracy and specifics of both sides is in writing and initialed as the negotiations proceed back and forth. During this crucial part of the negotiations, the success or failure of the whole transaction may rest on the willingness of the Realtor to do their job effectively. "A verbal offer or counter offer is only worth the paper it's written on" and about as enforceable. The fact is, not even the Agent knows the real truth about what their own prospective Buyer or Seller are prepared to accept. A wise Realtor should always be positive relating written counter offer information because the style of delivery is an important factor in the acceptance. Animosity may have surfaced between the parties at the onset because of the terms or amount of the offer and it is imperative that cool heads prevail in the best interests of the contractual principals of each Realtor. Negotiations will similarly continue back and forth only if both parties are honourable in their intent to sell or buy. INSIST THAT YOUR AGENT ATTEND THE PRESENTATION AND DEAL ONLY WITH WRITTEN OFFERS AND COUNTER OFFERS. To learn more about the philosophy of human nature in this regard you are invited to digest the information about http://www.maxpages.com/realestate101/STRATEGIES101,strategy~ and be ahead of the other guy. BACK TO www.realestate1o1.com |
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