How To Make An Offer On A Home
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
How to Make an Effective Offer on a Home
Summary
Looking to make an offer on a home? Employ some strategies used by seasoned investors to secure the best deals.Key Strategies for Making an Offer
1. Offer an Odd Amount: Suggest a specific price like $161,735. This might suggest to the seller that you have specific insights, adding credibility to your offer.
2. Ask Questions and Play Dumb: Take your time, ask questions, and never flaunt your real estate knowledge. Sellers may be more flexible if they don't feel outsmarted.
3. Use the "Limited Authority" Technique: Say, “I’ll need to check with my partner.” It's easier for sellers to accept a delay as something you can't control rather than an outright refusal.
4. Cite Precedents: Mention that “My father bought his house this way.” Sellers feel at ease if unconventional offers come with a history.
5. Request Extras You Don’t Need: Include items you can later give up as bargaining chips. This can make the seller feel like they're getting a win.
6. Show Reluctance: Express uncertainty with statements like “I’m not sure…” This could motivate sellers to offer incentives and make compromises.
7. Make It Seem Like Their Idea: Say, “Are you suggesting a later closing and more earnest money? Let’s do it your way; I just need…”
8. Secure Agreement Before the Offer: Ask, “What if I met your price but proposed my terms? Would that work?” Gaining preliminary agreement makes refusals harder.
9. Use Flattery: While jokingly quantified at $1962, making a seller like you can indeed yield better concessions.
10. Resolve Issues Later: Agree on major terms first, leaving contentious points until the end. Sellers invested in the deal are less likely to withdraw over small issues.
Smart negotiation can turn any house into a bargain. Invest time in mastering these techniques to make your home offer stand out.
You can find the original non-AI version of this article here: How To Make An Offer On A Home.
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