Home Price Negotiation
Purchasing Homes in Port St Lucie
Most often the negotiations on terms are not centered only on the selling price. Writing a buyer-friendly contract could many favorable terms including the seller’s credits toward the closing costs, which will discount the property by the amount of the contribution while helping the cash-poor home buyers with their closing costs. Best of all, the years of experience as a Realtor®, Real Estate Broker, and former Property Appraiser does not cost home buyers for all services offered by me, my team and one of the most reputable real estate companies, Coldwell Banker Thomas J. White Realty. The following is a highlight of some of the free services we offer to our home buyers:
Housing Market Data –In order to place the best offer we have invested a great deal of time and energy in gathering industry data to assist home buyers in their price negotiations. This information is not just for the sold home in the area, COMPS, but we also employ the active and pending listing prices to ascertain the competitive dynamics of the marketplace.
The information is quite comprehensive, and it is known as CMA or a Comparative Market Analysis. The two main components of CMA include the comparability of the home in question against the similar homes that have been sold recently in the surrounding area. This provides us an idea about the sold homes market, but since this is “past” data, perhaps is not in line with the current market conditions. To remedy that, we compile an additional CMA report with an emphasize on the currently active listed homes, which are located in the same community and share more similarity with our subject home. This provides us an overview of the housing market to modify the CMA module and adjust the offer price according to the fair market value.
True Understanding of the Homebuyers’ Circumstances – Only by continuous communication with our buyers we can assist them in buying the ideal home to match their requirements effectively. By knowing your wants and needs as well as the financial abilities, we could better assist you to create a price negotiation approach that will have the greatest chance of success.
Understanding the Seller’s Motivation– Although it is not generally possible to determine why an individual is selling their home but there are actually a few points that we can learn using the listing price history and number of the days on the market that will enable us in assisting you to make an educated decision on the price of the home.
It Is Not All About The Money – There are a number of methods to write an effective real estate offer and often they do not include money. We explore all possibilities of swinging the scale in favor of our buyers even if the seller is not flexible on the asking price. There are always many ways to ask the sellers for other incentives that could result in a better deal. We will negotiate all possibilities to make our offers as beneficial to our buyers as possible.
It Is Not Over Till It Is Over – Most often the price negotiations include several offers and counter offers and a great deal of back–and–forth negotiations. We will accompany you during the every step of the offer and counteroffer to modify the negotiation tactics properly. More than once we have witnessed the immediate acceptance of a lower price offer by the sellers only to discover there are many repair issues after the home inspection report becomes available. The contract could fall apart at this stage if we fail to negotiate with the owner regarding the repairs. This shows that the negotiation to buy a property is not over and done with the acceptance of the purchase price. We have learned that a seemingly easy acceptance of the initial offer on the front end could lead to significantly less flexible seller when inspection and the repairs issues surface. The sellers feel that by accepting the buyer’s offer they have already sold the property and since the buyers have agreed to the price the additional negotiations are meaningless.
These are some of the few obstacles that buyers could encounter but most problems could be solved by having a professional real estate expert on their side to guide them. My team and I will be with the home buyers in every step of buying homes in purchasing homes in Port Saint Lucie, St Lucie West, St Lucie, Stuart, Hutchinson Is, Hutchinson Island, Jensen Beach, and Fort Pierce. For more information about our free buyer’s services please contact one of our area experts at:
Phone: (772) 323-6730