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Monday, February 27, 2012

Brevard County, Florida Real Estate Tips - Negotiation strategies to close the deal!

There are tons of books out there on how to close the deal.  As a buyer it is not necessary that you be the expert negotiator.  You have a real estate agent working for you who should have the local market knowledge and skills necessary to advise you in the correct price and negotiating approach.

Still, even against the advice of their real estate agent, some buyers take an approach that jeopardizes any chance of coming to an agreement with the seller.

I think buyers should take one of two approaches when preparing an offer to purchase.
  1. Make it a reasonable "let's talk" offer so we can meet somewhere acceptable in the middle or, 
  2. Make an offer that represents best and only offer and let the seller know it [not meant to alienate the seller, just to save everyone time].
There is one approach I caution against always - low ball offers with an accompanying list of reasons to justify the offer.

Sellers very often have an emotional attachment to their home.  You may not like something but still the seller may have special memories you (or no one else) can see.  This may be perceived as a personal attack! 

There is possibly one exception to the above -  a short sale.  In a short sale where the seller is playing with other people’s money (as in 100% loan and none of their own money in the house) they may be willing to look at the list of "reasons" as something the bank would accept as well. 

Regardless of approach, any offer to purchase should include an inspection contingency. 

If the results of the inspection are not satisfactory then a buyer reserves the right to
  • walk away, 
  • present a list of repairs required to proceed, or 
  • offer a lower price because of the "list." 
Of these the only one a seller would be required to accept would be the walk away!  Still an inspection contingency is a must!

When you are ready to sell your Viera, Suntree or Rockledge, Florida home, give me a call at 321-693-3950 or email me.

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