The Secret Value In Choosing a Home

The Battle Rages On…

They were at a standstill; the lines had been drawn and the ensuing trench war was taking its

toll on everyone. Both buyer and seller had been going back and forth for months, and they

were beginning to think that perhaps all of this wasn’t worth the headache.

If not for the fact that they had their mind’s set on getting what they wanted, the negotiations

probably would have gone South a long time ago. Things didn’t have to be that way; winding

the clock back a few months, it would have been clear to any onlooker just what may have

gone astray.

You see in the game of real estate, what usually happens is that buyers will shop around until

they find a property they really like, and then, shift their mind set to “trying to figure out a way

of bringing down the asking price” as much as they can.

Regardless of what that price is, fair or not, the premise is to knock off an X percentage of it

right from the get go. This isn’t to say that as a buyer you shouldn’t be looking for the price to

come down; quite the contrary, you should. But having the right timing is critical, that is if you

want to be successful at bargaining to the price you want.

Think Win-Win not Winner Takes All…

Even when the home you want to buy is priced realistically, you still have a better shot at

bargaining down if you view things from the seller’s perspective.

Think about it, the seller usually has a need to sell, a time-line and the added pressure to get

money out of the sale of the home, to finance building or buying other properties, why would

you want to give this advantage away with a low-ball offer from the start?

You could, but you would risk alienating your seller and halting all negotiations. You’re also

probably not weighing in other, no less important, factors such as the value of the home to

you.

Think Value

When you’re buying a home, there’s a lot more that goes into the decision than just the asking

price.

What you’re willing to pay for one home, another would balk at. It’s a personal decision

fraught with all sorts of details. Your needs, the location, services and amenities available and

of course the home’s appraisal (which determines how much a bank is willing to lend you), all

factor in your decision.

You can’t really determine a property’s value to you, unless you consider all of these things.

Which brings us to our next point.

Do You Know What Your Priorities Are?

Before any negotiations take place, you would be wise to know what’s important to you

(things you definitely must have) and what you could be more flexible on.

Knowing what your priorities are, and getting those out of the way first, will ensure that the

process rides much smoother, save time and possibly money. It also lends you credibility and

added leverage to your position.

Unless you’re really into dickering endlessly over price instead of value, you’re really much

better off by going to the bargaining table with a different mind-set.. If negotiations fall apart,

or you happen to be dealing with a seller that just doesn’t get it, then maybe buying this home

really isn’t in your best interest.

That’s what it comes down to after all, doesn’t it? Being satisfied with your purchase for years

to come and knowing that you’ve made a sound decision from considering every possible

angle.

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