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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