You've managed to sell your old PEI real estate and now you're ready to settle down and buy a house in Fort Wayne, Indiana. You've looked at dozens and finally found one you like. You really want this home, but you also want to make sure you get a good deal on it. What sort of offer should you make? Should you bid high to avoid any possibility of losing the home? Or should you bid low and try to get a better deal on the property? Different situations warrant different responses, so we'll outline some for you here.
In a situation where you know there's another buyer interested in the house you want, you should never try to low ball the seller. Chances are the other buyer's offer will be better. In that case, the seller will simply reject your offer and negotiate instead with the other buyer, which gives them the best chance of affording Scarborough real estate when they move. Therefore, when you know you'll be in a bidding war, offer close to or slightly above the asking price (if it's reasonable) or what your appraiser or realtor thinks a fair asking price would be.
In a situation where you're bidding unopposed for the property, offering high just means handing over more of the money from the sale of your Oakville, Ontario real estate than you need to. Make an offer below asking (but not unreasonably low) and be prepared to negotiate from there. It's unlikely, but the seller may even accept your offer. Generally speaking the longer the home has been on the market the lower you can get away with offering if the seller is a reasonable person, so make sure you know.
Often times, even if you're going to be in a bidding war situation, you can win the home without having to put up your vacation Spokane, Washington homes for sale as well by employing a few tricks. One is to offer an odd amount, such as $214,200, because most people will go for round numbers and you may beat out another offer by a few hundred dollars. Another trick is to get pre-approved so you can remove the financing condition from the contract, and a third trick is to offer a quick closing.
This basic advice can serve you well in negotiations when you're looking at Halton real estate that's for sale by owner and representing yourself. However, if you've hired a real estate agent to represent you, you should always listen to their advice. You may not like what they're telling your (for instance, that you will not get a great deal on the house if you really want it) but they have years of experience and they're usually right.
| 