6 Common Sense Real Estate Negotiating Tips For Buyers

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Buying real estate is a many layered process. At nearly every stage of the process there are opportunities for negotiation. The skill of calm discussion to reach an agreement can be unfamiliar for many buyers and even with the assistance of the experienced real estate agent, the fact that the buyer has a personal stake in the outcome makes it important for them to be armed with some common sense tips to make the process go more smoothly.

Negotiating for buyers is something to be ready for before any real estate transaction. Most of these tips are just common sense and that can be helpful in this fast paced situation.

The following tips can be extremely helpful in the negotiation process of a real estate transaction:

1. Don't focus only on the price

The seller's price is not the only point to dwell on. There are several aspects of the sale that can be modified to save money for the buyer. Be aware of how choosing the closing date you prefer can be of value to you and remember that negotiating for buyers often means asking the seller to contribute toward closing expenses as well as pay for needed repairs and other contingent requirements.

2. Don't move too slowly

Before beginning your real estate search, be sure to have your approved financing ready. This allows you to shop only within your price range and to make a quick and viable offer when you find that right property. Failure to be qualified and ready with financing can mean disappointment when you cannot make a fast move on a desired property. Negotiating for buyers means being ready to offer immediately when the right property comes along. Keeping everything always in writing will help ensure that your negotiated terms are clearly agreed upon.

3. Keep all negotiations professional

The process of negotiating for buyers can be a stressful one. The topic at hand is the future home of the buyer, and there are emotional investments being made, even in the earliest stages of the buying process. It is important to stay calm and even detached from the emotional aspect so that your mind is focused on the business points that are in question. The assistance of your agent should be helpful here, their dispassionate demeanor can help keep the attention on the actual contract issues and not the nervousness of the buyer and seller.

4. Don't make a low-ball offer without reason

Offering an amount that is significantly below the seller's asking price can be justified in some cases. Perhaps the structure needs a great deal of work to be brought up to code, this would support a lower than asking price offer. If the comparable sales in the area were also lower than the current asking price, this is another good reason. Simply offering a much lower bid than the posted price in an attempt to force the seller to counter-offer can be seen as insulting and could end the negotiating process entirely. Proceed with caution when making a less than full price offer.

5. Don't be afraid to ask

Negotiating for buyers means knowing that there are several things that can be requested. If there is a piece of furniture or other non real property item that interests you, it does not hurt to ask the seller if that item can be part of the deal. When respectfully brought up as an addition to the deal in progress, the seller may be happy to comply. Remember that your flexible attitude throughout the entire interaction can work to your benefit.

6. Don't obsess!

Relying on your professional real estate agent can take some of the burden off of you as a buyer, but try not to fixate on the negotiating process, try to relax. This common sense "take time out to breathe" attitude can keep you more able to focus on the points that require your attention.

Source: http://business-negotiation.blogspot.com/2012/07/6-common-sense-real-estate-negotiating.html

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