It’s the moment you’ve been waiting for… You’re ready to submit an offer on a home, which means it’s time to start the negotiations.
- Watch out for the biggest mistake property buyers make during the negotiation process: not preparing adequately! In order to be an effective negotiator, you must do your research and be knowledgeable and ready for what happens next.
Your realtor should be able to prep you in advance so that you are never blindsighted throughout the process. As you put together your offer, you want to closely look at the potential trading range for the property.
Most buyers will put in an offer at the lower end of the potential range as a starting point, but in a hot market you may need to shift this strategy in order to stay competitive. Your agent will be able to advise you on a fair starting point for your first offer.
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