You found a house or condo that seems perfect and you really love it. If you are like many buyers,
you start off by asking the real estate agent if the sellers will take less than they are asking. A real estate agent doesn’t know what the sellers’ bottom price is.
The sellers often don’t know themselves until they get an offer. In many cases, the price is negotiable, but the only way to test it is to make the sellers a written offer to accept or counter.
If you get involved in offers and counter offers, another buyer could come in with a better offer while you are negotiating back and forth. If you cannot qualify for financing at the asking price and you are willing to risk losing the house, you can make a lower offer. But if it will break your heart to lose a home you really love and you can afford it, it may be better to avoid bargaining and simply pay the asking price.
Take advantage of this market and make that lower offer. What have you got to lose?!
2 thoughts on “Bargaining in a growing Buyer’s market”
February 13, 2008
It’s BUYERS kingdom. So many incentives are been given by the owners and interest rate are so low ..foreclosures continue to drive prices down..great time to buy.
February 14, 2008
Great info Marina! Very useful when it comes to negotiating in this changing market.