There is always a business strategy involved when making a home purchase. For those that are savvy enough to finagle great deals on a new home, they understand what it takes to get the absolutely best deal possible. For the rest of the group of buyers they enlist the help of real estate agents, a project manager, or another entity that can help steer the sale or purchase of a home. There are some key types of negotiating tactics that these professionals use to help get the best overall price for their clients, and they are simple concepts that make a big difference.
Buy Low, Sell High
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The theory behind investments is to always buy at the cheapest possible rate, and then sell at the highest possible time. This is how many have made their millions. When it comes to the purchase of a home in today’s real estate market, the idea of buying low is an absolute. The housing prices are the lowest they have been in nearly 30 years, thus making this the ultimate buyer?s market. The key is driving down the price until the buyer feels confident about their purchase. Some of the ways to do this include:
- Placing an offer twice as low as what is realistic, knowing that the seller will counter offer
- Submitting offers with banks on potential short sales
Buyers Are Winning
With the housing market taking the slump that is has, many banks are holding onto foreclosed properties that are not selling. This means that the property taxes, and lack of repayment are sitting on the bank?s books. This means that sellers, especially banks, are desperate to clear properties off of their list. Buyers can take full advantage of this allowing them to submit ridiculous bids for homes, and being awarded them.