Negotiating Real Estate Like a Pro

Getting into a contract can be tough and tedious work, but we want to ensure you get the home of your dreams. Here are a few must know tips to have you negotiating real estate like a pro!

Pre-Approval Letter

Firstly, having a pre-approval letter is essential when negotiating real estate like a pro. This will show the seller that you are serious about purchasing and that you have the financial capability to do so. A seller will feel more comfortable accepting an offer from a buyer who is prepared to make a purchase.

Make an Offer Based on the Homes Value

Be sure to offer a price that is based on the homes value to you and the current market. It is imperative that you have a professional help you understand the market conditions and the area you are purchasing in. A REALTOR® will be able to compare and contrast other homes that have been sold in the area recently. This will give you the best chance at making a reasonable offer, because you will have a better idea of the homes value.

Ask For Everything You Want in your offer

If there is something you want, be sure to ask for it. Overall, you want to end up in a contract that you are comfortable with so, you will want to ask for anything that is significant to you. Your REALTOR® can recommend contract terms that align with your needs, but you need to look out for your best interest therefore don’t make an offer that includes terms you aren’t completely on board with. Be prepared to compromise in order to get the deal done. However, don’t short yourself on your wants and needs. Before making an offer be sure to come up with a list of must haves in your contract. This will ensure that you come out with a deal you are satisfied with.

Make Your Offer As Appealing As You Can.

Making an offer on a home is overwhelming. There are so many aspects to take into consideration hence the reason to be knowledgeable of the process. So, be sure to do your research first. Know everything you can about the property and check with your REALTOR® for guidance throughout the purchasing process.

Bidding War

Low inventory is going to play a main role in how the negotiation process will work. With a low inventory in the housing market right now, seller’s can tend to have the upper hand. This allows them to lead the negotiation process a little more than the buyer. Remember to offer what you’re comfortable with and don’t get caught up trying to win. While the overall goal is to get the home you desire, be sure to remember what your must haves are.

Overall, try to remain calm and stress free. Your helpful real estate agent will guide you through the whole process. Which will make purchasing your home a breeze!

Check out ERA Liberty’s other blog articles if you enjoyed this content. We blog about all things real estate, local eats, and happenings in and around our community.

For all your home buying or selling needs, ERA Liberty Realty is always there for you! With two local offices to help you no matter where you are, our agents are knowledgeable of the area and the housing trends happening within them. Reach out to us today to get your journey started in West Virginia, Virginia, or Maryland!!