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How can I negotiate a lower price?

I have two places of interest - should I let them sit for a while or do you reccomend putting in an offer that may be lower than the asking price and waiting to see what happens? Both places are just outside Trolley Square and I'm not sure how long they might stay on the market... Thanks for your help!
Mon Apr 21 2008, 15:33 - Wilmington - Market Conditions - 12 answers
 
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Lisa
Home Buyer
in Wilmington
Lisa, Home Buyer in Wilmington in Wilmington
Answers (12)
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Don Tepper was FIRST TO ANSWER
Hey Lisa,
You want low but we don’t want to offend!! Keep that in mind. We are strong negotiators that may be able to help you. http://www.delpagroup.net

Tue Jun 10 2008, 15:34
Web Reference: http://www.delpagroup.net
 
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Lisa
Should I assume you're looking at for sale by owners ?
Because if you're working with a realtor Then I'm wondering ,,,,
If you 're looking at FSBO, I suggest you offer 10 to 15% less and negotiate from their
I also contact a Realtor whom does at least 15 - 20 yearly transactions They might be willing to take you're property to settlement for a flat fee
Negotiating is the easy part Settlling is the hard part You're dealing with buyer/ seller/ lender / under writer / insurance agent / surveyor / appraiser attorney / settlement coordinator/ etc One mistake and that you might lose it and owe a lot of people money
If the properties are listed go talk to an experianced agent in the area That is my suggested

Wed Jun 4 2008, 13:20
Web Reference: http://www.annasTeam.com
 
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That’s a tough question; while you can certainly seek to negotiate a lower price on a home now, prices may or may not be lower by waiting. There's no certain answer for that.

If you are going to buy a home now, delve into the market data to see what’s the best negotiation strategy. There is potentially thousands to be saved.

Mon Jun 2 2008, 11:31
Web Reference: http://www.georgia-new-homes.net/Buyers_Agent_Atlanta_G...
 
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Greetings Lisa! I live off of Pennsylvania Ave. in Wilmington and am very familiar with the Trolley Square area. I am not sure if you are working with a REALTOR, but the first thing with which you should be armed is a CMA (Comparative Market Analysis)--this is a great tool provided by a real estate agent that will allow you to see for what price comparable properties in the area are selling. They are a great negotiation tool that lets you, as the buyer, know just how much to offer.

Sun May 11 2008, 11:05
Web Reference: http://www.irismccarthyhomes.com
 
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It is indeed a buyers market in most parts of the country. The first thing you as a buyer need to be willing to do is to walk away from a deal. This is sometimes hard to do if you get emotionally involved in a home. However you will have a different perspective on the negotiating process. Have your agent show you several homes in the area where you want to live. Once you find one you are willing to write an offer on have your agent present the offer along with a copy of all the other possibilities you are considering. This will usually let the sellers know that you are serious in finding the best deal you can and that you have more than one home that would suit your needs. Good Luck.

Tue Apr 22 2008, 09:39
 
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Gather as much information on the home, area and seek the sellers motivation for selling. To get the best price you need to know what other similar homes sold for, how much the seller purchased the property, how long it has been on the market, is the home vacant, need repairs or not show well. Also, you must be ready to purchase and pre-qualified for a loan limit. A buyer who has no home to sell, a cash buyer, and can close quickly will get a better price as well. There are many ways of getting the best price.

Tue Apr 22 2008, 09:28
 
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The very first thing I will do after you choose a property, is research the community and present a "Comparative Market Analysis" to you. We will discuss this in detail.
As an accredited "Buyer's Agent" I always recommend a home inspection. This way you know what you are buying. At this time you have the opportunity to negotiate any needed repairs or replacements.

Tue Apr 22 2008, 09:25
Web Reference: http://www.cbunited.com/tliepman
 
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Find out how long the homes have been on the market at the current listed price. Find out from the listing agent or your agent as much about the seller as possible. Where there are moving, when they would like to move etc. If you know what the seller needs, then you can adjust your contract to have all other facets good for them except for the price. Sometimes the price isn't always as important as the terms of the contract. If Price is the issue then submit a fair market price. Good Luck and I hope this information was helpful to you.

Tue Apr 22 2008, 09:20
Web Reference: http://www.palmettopalmsrealty.com
 
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Lisa, even though this is a buyer's market do not hesitate to put in an offer. Base it on how long properties have been on the market and what your buyer's agent recommends. Bear in mind that the final decision is your's. Also remember Trolley Square area does sell even in slow markets. Good luck.

Tue Apr 22 2008, 09:13
Web Reference: http://www.homelinkde.com
 
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My suggestion is to find a buyer representative.....It is to your best interest to make sure that you have representation...and keep in mind that many times the seller is the one paying the commission for both side; you are receiving representation for free...

Mon Apr 21 2008, 22:11
Web Reference: http://www.bruceedgerly.com
 
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I like to gather all the local comps that directly impact that house but I also like to show the trend,nationally and locally that negatively impact the price.Then I look at the dollars I may have to invest to get the home like I want it and try to negotiate that into my price. I never advise to wait and see what happens because you never know the sellers position and it may change at any given moment. If you like the home make the offer that works for you, because if you dont someone else might.The sellers have 3 options either they counter,accept or reject it. Good luck.

Mon Apr 21 2008, 16:45
Web Reference: http://www.mitchfulfer.com
 
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FIRST ANSWER
Put in an offer that works for you. Determine what the comps are, to get an idea of their real value. Know how much you can really afford. And then determine how much you really want them. Finally, make an offer.

Mon Apr 21 2008, 16:23
 
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