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Buying A Home? Here's How To Negotiate Like A Pro
Buying a home can be a challenge if you don't know how to negotiate competitively. Our real estate agents can help you find key points you can negotiate on to help you get the home of your dreams. There are times when the usual give and take between a buyer and seller just isn't enough to close the deal in a timely fashion.
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Eliminate the home warranty – Eliminate the option for a home warranty. Odds are you will want to make a few of your own improvements. Let go of the warranty, and you can make sure the work is done to your satisfaction. It will also give the seller the incentive they need to accept your offer.
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Offer to leave a few items behind – A trend that many people are taking advantage of is bargaining with other items the seller may want to get rid of. Consider increasing your offer if they leave you with a few items. Riding lawnmowers, furniture sets, boats, or golf carts are high-ticket items that may take a while to sell to others. Offer to take the items off the seller's hands.
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Increase the amount of earnest money you offer – If you are really interested in one of the Bergen County homes for sale and you know you have competition, increase the amount of earnest money you offer. This is money the seller can take advantage of immediately after closing. The more you offer, the more they get right away with no waiting.
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Speed up the closing – Show the seller that you can close quickly. Move up the closing deadline by a week or more so neither one of you has to wait on all the red tape. If you have the financial means and are already approved for your mortgage, you should be good to go to speed up the closing.
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Do your research – Do your research and learn as much as you can about the property you are interested. You may be able to find a few items you can bargain with if you believe the home is priced too high. Inspect the home carefully and talk to a few people who know the house's history. You may be surprised at what you find.
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Don't show your hand – Keep your thoughts to yourself when it comes to what you are going to offer. Find out what other bidders are considering, and see if you can find out how committed they are. Maintain a poker face when talking to the real estate agent, and only show your hand when you know you are ready to start bidding.
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Recognize a desperate seller – There are signs that a seller may be desperate. While you can use it to your advantage, try not to overdo it. If the seller is going through a rough period, be empathetic. By the end of the process, you can both walk away with much of what you want.
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Find out why the home is still on the market – For homes that have been on the market for over 30 days, you will want to know why. Are there repairs that need to be made, or is it not in an ideal location? While the real estate agent may not go into a lot of detail, they can give you a general idea. Talk to them about your concerns and see what they say.
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Always be professional – Always be as professional and courteous as possible. Being pushy and overbearing will only alienate the seller making it harder for you to get the home you really want.
If you have found the Bergen County home you want, put your bid together and contact one of our agents. We have the experience you need to be able to close the deal on your new home. Negotiating the deal is part of the process, and we can make it go smoothly!
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7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
