PLENTY OF FISH IN THE SEA!

May 16th, 2008

While many areas around the country are experiencing a “buyer’s market,” you need to exercise caution when offering to purchase at below asking price.  Bargaining is indeed an art, and the last thing you want to do is to insult the sellers.

An unreasonably low offer risks angering the sellers to the point where they won’t even make a counter-offer.  In general, an offer more than 10% below asking price is not customary and faces possible rejection, but there are ways to proceed with respect when you feel that a lower offer is substantiated.

Sit down with your REALTOR® and make a list of reasons to share with the seller about why your offer is less than asking price; or, strongly consider negotiating other terms of the purchase, such as closing costs or repairs. A reduction on those aspects can still yield great savings.

Whenever you are in the presence of the sellers, kindly exhibit proper etiquette and respect. Consult with your REALTOR® before any meeting to make sure you’re both on the same page.

Ultimately, the best way to make your offer with confidence is to realize that there are many attractive homes for sale in your price range. If a seller rejects your offer outright, avail yourself of the other suitable properties on the well-prepared list of possibilities provided by your REALTOR®.

Call me if you need assistance with your real estate decisions. If you prefer, Email me at donkingsley@kingsleyrealestate.com. I will be happy to share my knowledge with you at no cost or obligation.

Entry Filed under: Buying A Home, Financing, Real Estate Tips, Selling Your Home