You are driving around the neighborhood looking for “For Sale” signs when a house catches your eye. You park your car in front of the house and get out to take a look at it. What little you see on the outside makes you fall in love with the house. You immediately call your spouse and tell them all about the beauty you are standing in front of.
You quickly note down the number and send it to your Ocoee realtor so that they can find out every single detail about the house. After a few days, your realtor calls you and tells you how much the house costs. Sadly, the figure they quote is out of your budget, and you are bummed that perhaps this house is not the one.
Don’t give up on the house just yet! We have got some negotiation tricks up our sleeve that will help you land your dream house.
Let’s take a look at them:
1. Write an Escalation Clause in Your Counter Offer
An escalation clause gives the seller a buyer they can fall back on if someone refuses to accept their asking price.
For example, a house is being sold for $1,750,000. The seller receives numerous buyers but their counteroffers are way below the cut back margin the seller has set. This is where you write an escalation clause in the contract. It goes like this:
“XYZ is willing to pay $10,000 more than the highest bidder, granted that it does not exceed $1,500,000.”
2. Do Let the Buyer Know That You Are 100% Invested in the House
Sellers like to tour the house alongside the buyers so that they can listen to your remarks. This gives them insight into what the buyer is thinking and how they feel about the house. If you have made up your mind that you are going to buy the house because of its great condition and reasonable asking price then refrain from showing your cards. Show yourself as a serious buyer and not as a desperate one.
3. Negotiate With Market Value
After the buyer quotes you the asking price, take your time to find out how the housing market is doing. Research on the neighborhood to know more about the market value of the house and then use it to negotiate with the seller. This will show the seller how knowledgeable you are in this area.
While your Orlando realtor will handle the rest of the process for you, it’s important that you have a face-to-face conversation with the seller to show them that you are a serious buyer.
If you are a first-time homebuyer and looking for a professional Windermere Florida realtor, then visit the website Megan Dowdy Realty. They offer home buying, selling, relocation, and real estate investment services. For further information, call on 407-509-9279.
