What Are Some Tips on Negotiation?

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Aside from that, the more you know about a seller's motivation, the stronger a negotiating position you are in. For example, the seller who must move quickly due to a job transfer may be amenable to a lower price with a quick closing. Other so-called "motivated sellers" include people going through a divorce or who have already purchased another home.

Your position is also better if you have few, if any, contingencies. Get your loan approved subject to the appraisal and property selection. Then you are the same as a cash buyer. Go ahead and sell your house first; then find the next home.

Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for. Before making an offer, check the recent sales prices of comparable homes in the neighborhood to see how the seller's asking price stacks up.

Some experts discourage making deliberate low-ball offers. While such an offer can be presented, it can also sour the sale and discourage the seller from negotiating at all. A better solution is to offer a reasonable price with no contingencies. Most sellers then simply accept the offer as written, benefitting everyone.

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