Continuing with my series of successful home buying real estate tips - here's number 7.
Tip #7: Put Yourself In The Seller's Shoes
You are about to make one of the most important decisions that will affect both your life and the life of the seller. If you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professionals and comes down to the individuals buying and selling the home.
A closer look at the seller may help you in deciding whether and for how much to buy a particular home. While the price a seller paid for a home is irrelevant in determining market value, understanding their position will help you negotiate better. For example, if you know that a seller bought his or her home for $460,000 and is currently on the market for $409,000 you can understand that the seller is losing money on the sale of their home. This can help you be more sensitive in your position, so when you and your real estate decide on a fair purchase price, you can present your offer in a way that doesn't offend the seller or make him or her shut down. Remember, you want to open the door for negotiations, not close it. Being sensitive and understanding can help you negotiate a better price.
Till next tip!
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