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Negotiating tips for Buyers
Information for Buyers
First, look to your agent for guidance on negotiating strategies. You're in a strong bargaining position -- meaning, you look particularly welcome to a seller -- if:
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You're an all-cash buyer; or
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You're already pre-approved for a mortgage; and
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You don't have a present house that has to be sold before you can afford to buy.
In those circumstances, you may be able to negotiate some discount from the listed price. On the other hand, in a "hot" seller's market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers.
It's very helpful to find out why the house is being sold and whether the seller is under pressure. Keep these considerations in mind:
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Every month a vacant house remains unsold represents considerable extra expense for the seller;
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Some owners might be relocating immediately because of a job change, or working with a relocation company; and
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Estate sales often yield a bargain in return for a prompt deal.
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