RULE NUMBER ONE in my Playbook for First Time Buyers: NEVER FALL IN LOVE WITH THE HOUSE.
Of course, you often have no choice. The reason is simple: buying a home is a very emotional process. You’re going to LIVE there! You’ll create new life experiences and, frankly, that’s emotional.
But when you’re shopping for a home and you want to win at negotiations with a home Seller, or, you just want to be treated with respect by crazy aggressive real estate agents, you have to tamp down your emotions.
I believe in the negotiating tactic of “first one to leave the negotiating table wins.”
That’s really what I mean by “never fall in love with the house.”
How To WIN:
1. Move quickly: Offer your price promptly, don’t explain your price, and sit back and wait for the Seller’s response.
2. Be prepared to sign a purchase agreement (contract of sale) and get your home inspection immediately your Offer is accepted.
3. Watch the Seller’s reaction to your prompt, efficient moves.
- Does the Seller respond in a timely manner?
- Does the Seller’s real estate agent put up barriers to your Offer being presented/accepted?
- Is communication between all parties clear and concise?
- Are the other parties driving you kinda sorta NUTS with ridiculous statements and/or demands?
If you get a negative or confusing reaction to these focus points then you need to WALK AWAY. Let the Seller chase after you. IF the Seller is serious about selling the home, they’ll come running after you. IF they have unrealistic expectations on price and/or terms then your walking away is going to save you a lot of headaches.
Don’t fall in love with the house;
be prepared to walk away so you can get what you want.
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