5 Tips For Writing An Offer In A Buyer's Market...
Not everyone has a high level of experience of negotiating great real estate deals, but if you follow these five tips you'll be ahead of the game.
Ask for the stuff you really don’t want or need and use them as negotiating tools. If you like the Sellers coffee table, ask for it. If you like the Sellers Plasma TV, ask for it. If you like the Sellers golf clubs, ask for them. Sometimes asking for items not listed in the “Goods Included” list may draw the Sellers attention away from the price and other major points in the offer. If the Sellers refuse, say “OK if we leave the TV out of the offer will you sign the offer.
Ask the Sellers for a “Cash Back” upon closing for furniture or renovations. If you love the home but hate the color of the walls, ask for some money back to repaint the walls. If you love the home and need an extra $5,000 -$10,000 for some new furniture, ask for it. Before doing this make sure your lender will agree to a “Cash Back” clause.
Ask for some perks. Sometimes when negotiating an offer you can’t always get everything you want. If that’s the case, Request that the Sellers pay for your closing costs. If the appliances are out of warranty, request that the Sellers supply an “Out of Warranty Insurance”.
Shorten the acceptance period. Instead of giving the Sellers 24 hours to respond to your offer, shorten it to 12 hours. Have your agent make it clear that you have other options. A good agent will always remind his client that, “The first offer is always the best offer”, you never know when the second one is coming.
Make your first offer the best offer. If the Sellers counter your offer you should lower your original offer by 1% each time they do counter. This technique should only be used if your original offer is reasonable to the recently comparable sold properties in the area.