Buying a home in today’s property market means you’ve got to be on your game.
Finding your dream apartment or house can be tough because the supply of homes coming onto the market is still below historical averages due to the pandemic.
And while that situation is easing in our neighborhood, we see an increasing number of buyers emerging. And that’s keeping upward pressure on house prices.
As an experienced real estate agent in our area, I know that every buyer has to focus on their desired style of property and their financial situation.
As an agent, I make sure my clients bring their A-game to every opportunity. The idea that you should make ever-higher bids for a property can be borderline reckless. So, to win a property you’ve got to bring something else to the table: great negotiating skills.
Getting a seller to pay attention to your bid is vitally important. Negotiation isn’t just about price but finding what else we can do to persuade the seller they want to strike a deal with you.
Below, I’ve listed four tactics to give you the best possible chance of securing the property. In the meantime, if I can help you buy your next property or sell your current home, please do not hesitate to contact me.
Put more earnest money in the pot
Offering to pay a bigger deposit than requested is a surefire signal that you’re serious. Additional earnest money will give the buyer confidence they’re not dealing with tire-kickers or folks who might not have the finances to back their promises. The best part of this offer is that you’re not paying more for the property.
Promise to move quickly
A fast deal is a happy deal, as they say. And most sellers feel this way if they like the offer. You can respond by promising to accelerate the time it takes to conduct the inspections. Offering to cut their waiting time by a week or 10 days is reasonable.
Home warranty move
In most sales, the seller will offer a home warranty, that’s an insurance policy that will pay for any issues with the home within 12 months of your purchase. It’s not an inexpensive item, costing around $500. You can let them off the hook with this warranty or offer to pay for it on their behalf.
Show some charity
If your seller is a churchgoer or community-minded, you can talk to them about donating to their most important cause. If you donate in their name, that might sweeten the pot further. It’s a nice gesture that will show the local community is important to you.