A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
You found the right home, what’s next?
You have done the work, you have your loan ready to go and you have
found the home you want, what is the next step? How do you negotiate to get the
best price? As a Realtor, this is the dilemma I go through with clients all the
time. They love the home, but they don’t want to over pay.
The first step is to make sure that the price that is being asked for
the home is reasonable. The first job for a Realtor before an offer is made is
to check the comparable sales in the area in the last 3 months. Once you have
the numbers, it is time to sit down and come up with an offer.
The Real Estate Market at the time you are making the offer has a great
deal to do with what your offer should be. If the Market is a hot market and properties
are not lasting very long, then your negotiating is going to be limited. Do not
allow your Realtor to try and be your hero. Remember the only real way to
negotiate is to be ready to walk away from the deal. If you are not willing to
walk away and the price of the home is in line with the comparable sales in the
area then don’t fool around, get the offer accepted with the price that is
being asked. I suggest you do not get into a bidding war, make your best offer
and don’t blink.
In my business of Property Management in Anaheim Ca. I explain to my
Home buyers, that if you are willing to walk away from the deal then you can
negotiate. First, if the property has been on the market for a while then you
are in a much better position to negotiate. Your first offer should be lower than
the asking price, but not ridiculous, many home owners get offended and you
want to make sure you get a counter offer. The next step is once you make the
offer, walk away and do not act anxious about getting the counter offer. Always
remember, the first one to talk loses. Remember, you have already decided you
are willing to walk away from the deal, so this is a game of sorts, so play it
out. If they do give you counter offer, don’t react until they call you to find
out if you are going to respond to their counter. If they call you are in
great shape, now you can respond by either raising your offer a little, or
telling them you cannot go up in price and you are moving on. This is the
critical point; let them make the next move. They will do either of three things.
One, they will not do anything and the deal is dead, two they will counter you
with a better lower counter then their last one, or three they will accept your
offer. If you are comfortable with the new counter offer, then accept it, if you
really want to play hard ball, then stick to your guns, once you have made up
your mind that you can walk away, you have no pressure on you, but believe me
the pressure on the seller is enormous.
If you get the home on your terms, then
congratulations, you have successfully negotiated a great deal on a home. It
all has to do with whether you are willing to walk away. Once you understand
that, then you are in the drivers seat!
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.