Home Buying Negotiations – The Psychology of Placing a Counter Offer

At first glance of ideal homes, buyers are already keen on placing offers. But sellers can always place a counter offer. But this doesn’t mean that you can’t place a counter back. According to real estate practices, counter offers can be placed back and forth from the seller and buyer’s sides. There is no particular limit to this. Here are some tips on how you can go through with it.

Ask for something in return.

Typically, transactions inside a home sale should be give and take. Sellers put specific price tags because they want money in exchange of their property. Buyers inspect the house and see appliances not included in the seller’s listing. Then a higher price than that of the seller is raised. This is when counter offers start. Whether or not the seller or buyer would give in to some demands, the counter offers can go back and forth. Sellers and buyers alike should remember that counter offers are made because they want something from this.

In simple philosophy, counter offers are done to tap into either a buyer or a seller’s fairness. In response to changes in prices made from both sides, requests are also slowed down.

Give incentives.

During the counter offer, remember that you should give when you want to take something. Thus, incentives in different forms will likely help. If you are on the seller side, offer buyer like paying for homeowners’ association fees for a specific period. Incentives can spell some trick on the buyer. You have just to be creative yet respectful in putting up your incentive offers.

There are so many incentives you can offer buyers. Capitalize on the primary truth that most buyers will need extra cash after the big purchase. Some other incentives you can give are gym or pool memberships, repainting, a year’s free of lawn services and a lot more.

Know when to split the difference.

It is part of the negotiation process. It is an art leading to closing deals and sealing a home selling endeavor. Low balls and high balls of the price range are exchanged. When few thousands or few hundreds of dollars appear to be the difference, you can typically accept the offer by countering a splitting of the difference. For instance, if your offer is $535 000 and your buyer wants it $530 00), split the $5000 difference to achieve $532 5000. You and the buyer meet halfway the price and both are on winning situations.

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Source by Desare A Kohn-Laski