Bidding On A Home In A Slower Real Estate Market Boston Condos For Sale Ford Realty

What’s your best strategy when making an offer on a home, during a slowdown in the real estate market?

Some think you should start real low, since you probably want to end real low, as well.

This may end up hurting you, if you piss off the seller.

Of course, some people don’t care about that. I think you should – you want the home, and you want it at a certain price, so why not just tell the seller that, and let him or her decide, without playing an “I win, you lose” game?

Some buyers, particularly in the current market, don’t want to make an initial offer that’s close to the top price they’re willing or able to pay. They feel that if they do so, they’ll have little room to bargain.

You don’t necessarily need a lot of bargaining leeway to strike a deal. If you start off with a price that is relatively close to the list price, you can stand firm or counter back at your best price along with a take-it-or-leave-it message. Just as a seller can decide not to sell if the price is too low, buyers can decide not to buy unless the price is right.

This isn’t really saying what I’m saying, but the concept is right. Bid near what you want to pay. YOU set the range, not the seller. If the seller comes back close to the original asking, then you know there probably isn’t much chance you will come to agreement on the price. If the seller comes down a lot, perhaps you can increase your offer 1-3%, and stay there.

Just a thought.

More: Tips on the art of home purchase offers: Low price doesn’t always win in slow market – By Dian Hymer, Inman News, by way of The Boston Globe

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