Selling Your Home - Advice Article
|
Browse home loans, check rates, and quickly compare payments.
Get great deals and fast, friendly service
at E-Loan, the #1 online lender.
Pick your best loan deal, then get approved in five minutes!
Click here to
Check Current Rates (opens
in new window) |
How To Negotiate A Higher Price For Your House
Neeraj Varma
By: Neeraj Varma
Negotiation is where many FSBO home sellers really have problems. The wrong attitude or a slip of the tongue could cost you thousands. Here are a few pointers to keep you on the right path:
1. Show interest in selling the house. In an effort to project a sense of strength many people either take an aggressive "take it or leave it" attitude, or they appear to be overly relaxed, almost disinterested. It is better to have an open mind, stay calm, be helpful.
Carefully investigate and analyze the facts. Make an intelligent response to the buyer. Being helpful makes it easier for the buyer to relax and be more willing to see your point of view.
2. Listen carefully to what the buyer has to say. Try to learn about the buyer's needs, wants, desires, fears, frustrations and problems that need solving. This will give you the information you need to work with the buyer and close the deal.
3. Don't let your personal feelings get in the way of accepting a good offer. Don't get thrown off by the little eccentricities of people. You may not like the buyer, but that doesn't matter. A little patience on your part could make you thousands of dollars. After the sale of the house, you never have to see him again. Keep emotions and finances separate.
4. Use time to your advantage. If at all possible, try not to be squeezed for time. Find out if the buyer has to move in by a certain deadline. The closer the deadline, the more they will be willing to pay a little higher for a quick close.
5. Close using the mortgage payments rather than the price of the house. You would be surprised how little the monthly mortgage payment changes when the asking price changes by several thousand dollars. You can easily work out mortgage payments at: http://www.mortgage-rate-canada.com/canadian-mortgage-calculators.html If you can find out income related information from the buyer, it will be easier to use this technique.
6. Stack the benefits in your favour. Try to include several factors that can be negotiated instead of just the price. For example, you can include blinds, furniture, tools or other items to enrich your offer. Try to trade-off some of the bonus items instead of reducing the price.
7. Create a win-win situation. If the buyer feels like they are getting the short end of the stick it will be difficult to close the deal. They have to feel like they are winning. Here's how Roger Dawson put it in his book, "The Secrets of Power Negotiating": "When you get the gold out of their teeth, that's not negotiating. That's stealing. When you get the gold out of their teeth and they thank you for it, that's negotiating."
If you follow these points you will certainly be on the right path to selling your house for a higher price. However, there are many tactics and strategies you can use or that the buyer will use on you. A little time spent on preparation can literally save you thousands.
You can learn more about how to negotiate for a higher price by handling the offer properly and other powerful strategies at: http://netman-ecommerce-guru.com/home-selling-secrets
Going through this information will take you a couple of hours, but it is most profitable time you will ever spend.
Related Pages
Home Sales
Listing Price - Setting the right listing price will help your home
sell faster - Tips on selling your home.
Home Selling Tips
- Information and advice about selling your home - 14 quick tips an what to do
and not to do.
FSBO - For
Sale By Owner - Consider the facts before listing FSBO - Homes For
Sale By Owner - Information and advice on selling your house on your own.
Listing Agents Role
- The role of the real estate listing agent in selling your home - How using the
right listing agent will sell your home fast.
Real
Estate Agent - New Construction - Use a real estate agent to protect
your interests when your new home is also new construction.
Real Estate
Investing - Sage advice on real estate investing - Four quick tips on
focusing on the right investment property - How to buy commercial real estate.
Showing Your House
- Quick tips on getting your house ready to show in ten minutes - How to show
your house the right way.
Closing Costs
Explained - Information about home loans closing costs and good faith
estimates provided by lenders within three days of your mortgage application.
What Is Escrow
- Explanation of what is escrow - Title escrow company process explained - List
of duties for buyer, seller, and escrow agent.
Down Payment
Leverage - Avoid PMI with a two-loan strategy. How to grow your equity faster.
Home Loan Online
- Discover the best ways to get the lowest rates - Links for checking current rates.
Loan Directory - Complete home loans directory for thousands of loan products,
companies, brokers, and lenders. Search our loan directory by keyword or by
category for complete listings of all things related to mortgages, home equity
loans, refinance, and more.
In The News
|
