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Buying to Win: Negotiating a Positive Real Estate Purchase

Jul 8, 2008
Buying a new house is an exciting prospect. However, to get the most out of a property, the fine art of negotiation is needed. You must know how to approach the seller so that your offer has the best chance to succeed. In the end, negotiation can mean that you pay thousands less for a property. It doesn't have to be a win-lose situation, though, and avoiding treating it as such can help you both negotiate and enjoy the result of negotiations.

Some people have a real problem with negotiating. They feel it is somehow 'rude'. Negotiations are not rude in and of themselves; they are a way that the seller and the buyer can feel comfortable about the transaction. People who see negotiations as a solution to both the buyer and the seller's desires are going to do better than people who view negotiating as a vehicle to get what they want and then jettison the other party from their thoughts.

Listen to the seller and find out their motives for selling, their timeframe and their personality. Why they want to sell has a lot to do with what they will eventually accept for their property. Finding out what they want out of this transaction is important, because they might not just be motivated by getting every dollar they can squeeze out of the property. If you can come up with a solution to their problems, they might be more amenable to selling the property to you for your price.

Know what you want. What is the price you would pay for the property? What is the price you would like to pay for the property? Are you willing to sacrifice things in order to get the house for the price you want and/or with the things you want? Can you afford to wait to move? Are there appliances/appointments to the house that you would like included in the sale? All of these things and more can be used to change your offer - or make it more palatable.

Is it more important to get the very best price you can or concede money in favor of making the other party just that much more comfortable with the transaction? Some people would say, "of course the best price is the objective (duh!)". However, keep in mind that real estate can be a small world and the person you transact with today could have the ear of the person you transact with tomorrow. Not only that, when the concessions you make are what create an easier transaction, you are going to smooth your way to the ownership of your new property.

You are negotiating to get what you want. You don't have to 'take care of' the seller; they can look after themselves. However, you can create a better atmosphere by approaching the seller as a potential ally in the transaction instead of an obstacle. When you approach someone with the attitude that you can all profit by the transaction, you set the stage for the seller looking at you as a friend, or at least, not as an enemy. You are more likely to get better concessions when you make a few yourself and ultimately make the home purchasing experience a lot less stressful for all involved.
About the Author
Search for Cuchara CO real estate at LaVetaForSale.com. If you've ever dreamed of owning a hunting property in Southern Colorado, this is the place to start looking.
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