Since we last spoke, we have done our due diligence and negotiated with the seller. I’ll go over a few tips that will help you successfully negotiate a contract as a home buyer.
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The last time I spoke with you, we were getting ready to write an offer on a new home. Between now and then, we have written the offer and gone under contract.
In that time, we took care of negotiations and due diligence.
Here in Northwest Florida, a lot of neighborhoods belong to Homeowners Associations, or HOAs. There are fees involved if you a buy in an area with an HOA, so you want to do your research. You need to understand the HOA and the restrictions and rules for the home that you want to buy.
You should also make sure that you like the neighborhood, so drive through it at different times of the day. We even stopped in and talked to some neighbors, and we are thrilled — these neighbors are great!
Now, when it comes to negotiating, the first phase of negotiations begins when you submit a written offer to the seller with the help of your Realtor. Then there is going to be a little bit of back and forth; after all, everyone has certain things they want and need from the transaction.
Don’t get too emotional during the negotiation process.
The key to negotiating is to create a win-win situation for everybody involved. To make that happen, it’s incredibly important that you understand the difference between what you want to have and what you have to have in your home.
We will also make sure that your purchase price is well within the comparable value of what the home is worth. The seller wants to be paid what the home is worth and you would like to get into the home for the least amount of money possible.
Finally, it’s important not to get too emotional during the negotiation process. Don’t get angry and take things the wrong way.
Luckily, our negotiation process was very quick and easy for this home. The clients are under contract and we are moving towards the closing table. Next time, we will talk about the inspection phase, which could be considered as the second round of negotiations during a real estate transaction.
If you have any questions in the meantime, give me a call or send me an email. I would be happy to help you!
