Many people put in offers on homes based on what they think they're worth—and that's important—but the situation the seller is in is also important. Depending on why—and when—the seller is moving, you can craft an offer that may save you even more money.
Taking the time to ask the selling agent (or the seller directly) why they're selling the home so you can understand their personal situation is something many homebuyers—especially first timers—overlook. If the seller needs to get out because they got a new job, have a family issue, are in the military and have been stationed elsewhere, or have another reason to get out quickly, you can craft your offer accordingly. Sure, you can be predatory and try to lowball knowing they need to get out, but that probably won't work (no one likes being backed into a corner.)
Instead, consider offering to keep furniture or anything that might be costly to move, or work with them on timing when you'll be in and they'll have to be out. Maybe they want a quick closing, and you can offer that to them and get a jump on other offers. US News Money explains:
The more you know about the seller, the more you can tailor your offer. Does the seller already have a new place and want a quick closing? Is there a divorce involved? Does the seller not have a new place and therefore would prefer a longer closing or even a rent-back agreement? “You have to ask a lot of questions of the listing agent and the seller,” DeSimone says. “The more you know about the seller, the better strategy you can put together.”
Just asking the right questions—either of your agent or the selling agent—can save you money, or better yet, time and hassle. Don't hesitate—after all, if you don't ask for what you want, you'll never get it.
12 Negotiating Tips Every Homebuyer Should Know | US News Money
Photo by Andy Dean Photography (Shutterstock).
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