Negotiating For Buyers
What Buyers Need to Know in the Negotiation Phase
I believe in giving my buyer clients an early education in problems that might be encountered, how they are usually resolved, and my role in the process. Negative surprises in the emotionally charged and time-sensitive home purchase process can be avoided in many cases by going through a checklist of instructions to buyers.
Making a Good Deal
Everybody wants to make a good deal, and working a motivated seller into a bargain purchase price is the goal of most buyers. My recommendation on a purchase price will be based upon a market analysis for the specific property you are interested in writing the offer.
A Really Low First Offer Can Backfire on You
A slowing market with rising inventory sometimes encourages buyers to make low-ball offers to test the sellers' motivation. In some markets, it's not that unusual, and sellers simply come back with a high counter offer to draw the buyer up to a reasonable price. However, sometimes a very low offer can offend them.
Offer a Comparative Market Analysis
When I get the question, "What price should I offer for this home?", you can rest assured that my recommendation is based upon a comprehensive market analysis of similar recently sold properties in that area. This will most likely yield a range and you can then choose an offering price based on accurate market statistics.
Help You Locate Resources
There are many partners involved in the purchase of a home. I will provide you with a list of competent professional to answer your questions. This can include inspectors, lawyers, appraisers, engineers, etc.
Buyer Representation Agreement
I want to help you find the home of their dreams, and in doing so, I will devote the time necessary to turn over every rock to locate it. So that you understand my fiduciary duties, I always have a Buyer Representation Agreement with my buyers. I take my responsibilities to you very seriously.
Don't Buy That New Furniture Until After Closing
With many of today's buyers purchasing homes at the top end of what they can afford, there isn't any room left in their loan qualification score. Deals have been lost days before closing because the lender did a final credit check and found several thousand dollars of new furniture had just been purchased on a credit card. Talk to your lender or myself before you make any significant credit changes or purchases in this critical pre-closing phase.
Stuff Happens - Don't End Up Temporarily Homeless
There are so many variables involved in a closing that it's not that unusual for there to be last-minute delays that move a closing a few days farther out. Many times this is due to loan documents, as the lender wants to see all appraisal, survey, title and other documents first. If any of these are delayed, then the closing might be later than expected. As the contract moves along, I will stay in close communication with all of the parties involved, including you. If necessary, you may need to have a contingency plan should a delay occur.