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Tuesday 29 September 2015

Top Tips by Professional for Fruitful Real Estate Negotiation


 For successful negotiation, you need to be aware of the scope of negotiation you have. The rule of thumb is if there are more houses on the market than number of buyers, you have a greater scope for negotiating the price. Your realtor can tell you the real situation of the market.

As per real estate experts, even if you are in a strong position to negotiate, you will need a realtor. An experienced one would know up to what point you could actually negotiate.

Many people have had to give up their dream homes because they negotiated too far. Having a realtor will not add to your expenses because it is handled by the seller only. Below mentioned are some of the expert tips that would strengthen your chances of getting hold of the house you want:

Get a pre-approved mortgage

Mortgage pre-approval comes from a lender wherein you have his approval for Cash Advance No Checking Account. When you are equipped with a pre-approval, you become a serious buyer.

Your realtor knows that you are here to make a purchase and not for window-shopping. In fact, some realtors refuse to entertain people without a pre-approved mortgage.

Focus on the value of the home rather than on its list price

Your realtor can help you get information regarding the actual value of the home. It can be gauged by keeping in view the recent house sales in the neighborhood.

If the price of the house is below the market value, do not hope that you can bring the price down further. Meaning, you do not have much ground for negotiation. If the property is priced high, you could negotiate.

Do not hesitate to ask for repairs

Even if it is a seller’s market, you should always ask for concessions. But know that all of them will not be approved.

It is important for you to hire a good home inspector, who would minutely inspect the house and bring to your notice what all repairs are required.