Princeton Town Topics – Let’s Talk Real Estate – September 25, 2013
NEGOTIATING THE BEST DEAL
Whether you’re a home buyer or seller, you want to feel good about the outcome of your real estate transaction. Negotiating in real estate is complex, but there are a few basic issues that play a key role in determining the outcome:
First, understand the market in your area. Is it a seller’s or a buyer’s market? This will affect your ability to ask for a better price.
Next, find out who has the most leverage. If you are the seller and have several qualified offers, then you are in a strong position. But if you need to relocate immediately and have only 1 offer, then the advantage goes to the buyer.
Know the details. While sales price is important, there are many other contingencies, like repair agreements, closing costs and other upgrades that can significantly alter the final deal. Have experience on your side. Your REALTOR®, who has been working real estate deals for years, is your best asset for success at the negotiation table.
