Negotiating with the seller

Negotiating the purchase of a home can become a struggle or a pleasant experience. First and most important you must always keep control of you emotions. My experience with negotiation a real estate real estate contract has been always keep it cool, let the third parties do the brawling. New Jersey first time home buyers should always remember you are buying a home, but the sellers may be selling a life time of memories and experiences. Never let it get ugly, you may want to get back in and re-visit to measure for rugs, or a host of other reasons before closing. They have the option of not letting you back if they dislike you or your attitude.

When you make your offer in writing and it’s presented to the seller. Here a few possible outcomes. First the seller may accept your offer, the terms and price of the contract. Second the seller can reject your offer and give you a counter offer, changing the price and or terms, it then will be your option to accept or reject. And third the seller can reject you offer completely.

Here are a few good tips when negotiating you home purchase. Have the realtor you are working with provide you with a couple of similar recent home sales. Now you should have a good idea what the home should sell for at this time. Very important, never make too low of an offer, its offensive and may turn the seller off to any negotiations. Remember this is someone’s home and you like enough to make it yours. Never tip your hand to your realtor and tell them you are willing to pay more or go up in price. Always be flexible with some of the terms, a few examples, the seller may accept your price but need a longer closing date to accommodate their new home completion. Or a seller may be older and would prefer not to do any home repairs suggested by a home inspection. And last but not least be a smart buyer and don’t be rushed in making your decision. Take your time and keep you cards close to your chest.

Buying a home is a great event in most home buyer’s lives. Follow these simples ideas and you should come out on top.