Tuesday, 13 January 2015

Jeff Adams Real Estate Tips for Successful Negotiation

It is critical to react to counteroffers as soon as likely and to avoid making a counteroffer with any term that is not truthfully a deal breaker. Delays in responding leave space open for another buyer to step in and make a bidding war, or even more likely, for the seller to see that other serious buyers might be out there.

Whether you're a purchaser or a vendor you want to succeed in the realty market. Negotiation is a difficult matter and all dealings are unique. Both side’s buyer and vendor—want to feel that the outcome favors them, or at least represents a fair balance of interests.

At various times we're in a buyers market, a sellers market, or a market where housing supply and demand are approximately equal. If possible, you want to be in the market at a time when it favors your position as a buyer or vendor.

Real estate transactions involve a trade houses for money. We know the house is there, but what about financing?  Has the buyer been pre-qualified or pre-approved by a lender? Meeting with a lender before looking at homes does not characteristically guarantee that financing is completely, undeniably available a loan application can be declined because of appraisal problems, title issues, survey findings, and other reasons.

If you're on the front page of the local paper because your business went bust—and the buyer knows it—you have little clout in the bargaining process.  A lot of concentration in real estate is paid to transaction prices. This surely makes intellect, but the key to a good deal may be more complex.

For More information: Jeff Adams Real Estate Success

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