| There is no doubt that times can be very exciting | | | | moving to your new house. Whether you are using a |
| when an offer is accepted and a new owner knows | | | | real estate agent or writing the offer yourself, you will |
| they can move forward with the purchase and begin | | | | need to disclose those requests in the written contract |
| closing on a house. From the seller's side, many of the | | | | offer so that the previous homeowners can legally |
| barriers to buying the property have been taken care | | | | receive your proposal with what you are petitioning. |
| of and now it just comes down to the closing logistics, | | | | Since your needs will be in contract form, you can be |
| such as the mortgage and inspections, which are | | | | sure to cover every term or, at the very least, bring up |
| meted out with a few rounds of home negotiation | | | | your points for discussion with the seller. If not named |
| between buyer and seller. But (and it's a big one), | | | | or mentioned in your contract offer, you may forget |
| sometimes negotiations between home buyers and | | | | specific terms you want addressed during the home |
| sellers is an uphill battle that few can accomplish. It's | | | | negotiation session and you may lose out on what you |
| not enough just to be strong in an offer and budge little | | | | really wanted to accomplish. In most cases, the seller is |
| by little as you try to show your pride in the process. | | | | willing to make a number of concessions when closing |
| Some people just throw out tough statements and act | | | | on a house, and if you're prepared, you will be able to |
| rough as if to let the other side know they are not | | | | make it worthwhile for both sides. |
| going to be pushed around. Believe me; this way won't | | | | If the seller counters on your offer, prioritizing the other |
| work well in the long run. If anything, it will just turn the | | | | side's key points helps you so you can use some of |
| other side off to working with you. Good home | | | | your requests and offer to give them up if they are |
| negotiation comes with understanding the other side's | | | | willing to do the same on their side. The purpose of |
| key points, prioritizing them, and working on overcoming | | | | both sides is to agree on the most important points |
| them. It's one of the best ways to make sure | | | | when closing on a house. For example, if the seller is |
| everyone agrees to the same terms when closing on | | | | willing to include the kitchen appliances but not fix a |
| a house. | | | | bathroom you requested to be fixed in your contract |
| During this key home negotiation process, real estate | | | | offer, this may or may not appeal to you and should |
| agents can be very beneficial . Not only have they | | | | fall appropriately within your prioritization scale. Most |
| taken classes on how to negotiate and reach amiable | | | | importantly, however, keep your eyes on the goal |
| terms for both sides, but their experience has allowed | | | | during any effective home negotiation session and |
| them to see what works (and when) and what | | | | keep the communication going! |
| doesn't when closing on a house. There is a fine level | | | | Overcoming the Obstacles on Either Side |
| of finesse in the home negotiation process that | | | | Explain why each term you are asking for is crucial |
| requires you to know how to get what you want out | | | | during the negotiation process. This is another reason |
| of the situation. | | | | why I strongly suggest that buyers and sellers use |
| The Art of Home Negotiation: Understanding the Other | | | | agents. It will be something both sides will be able to |
| Side | | | | use to help prioritize what's important to each, i.e. what |
| When sending the contract offer, you will need to bring | | | | you can or can't live without. Explaining each side helps |
| up the points you want to negotiate and allow the | | | | with persuasion and plays a big part in home |
| other side to bring up their points of interest as well. | | | | negotiation. Obviously, you'll also want to avoid |
| This will usually happen when some of your terms are | | | | damaging the relationship that you have with the seller |
| not accepted and the seller decides to counter your | | | | - and closing on a house is where that fine level of |
| written offer. It is essential for both sides to understand | | | | finesse plays a large role. Understanding that this |
| what is important to each other when a buyer is | | | | meeting of the minds should be a win-win situation for |
| closing on a house. Balance comes from fully | | | | everyone is vital to your approach and ultimate |
| understanding the other side's key points during any | | | | success for effective home negotiation. |
| home negotiation session. | | | | The company that I work for (and other similar |
| Internalizing and digesting this information during a home | | | | companies) can help you with closing on a house as |
| negotiation session will help you compare and contrast | | | | well as the numerous other steps that are involved in |
| this against your own needs. If there is something you | | | | the home buying process. Using a real estate agent is |
| aren't willing to concede when closing on a house, you | | | | highly recommended throughout the entire process of |
| can use this information to leverage other terms that | | | | closing on a house as they have access to unlimited |
| the seller will easily grant you. | | | | resources and are trained in home negotiation and |
| Prioritization of Key Points in the Process | | | | getting the best deal for the buyer. |
| Once you have an understanding of which points are | | | | Overcoming the obstacles is easier when you realize |
| important to you and the other side as well, you will | | | | you must turn this part of the home buying process |
| need to also know how those measure up. How | | | | into something that's profitable not only for you but |
| important are they for you to continue closing on a | | | | beneficial to the seller as well. This kind of |
| house? You will need to know what will be acceptable | | | | give-and-take when you're closing on a house will |
| or become a "must have" to you so that you can feel | | | | ensure the seller concedes to a great deal of your |
| comfortable before signing on the dotted line and | | | | requests willingly - and maybe even with a smile. |