Negotiation tips for Buyers
Before negotiating, become knowledgeable about the property you are interested in purchasing. Do your homework before preparing an offer. Ask the Seller if they have any of the following information available for your review:
- Seller’s Property Disclosure Condition Statement.
- Property inspection report, if property was pre-inspected.
- A copy of a recent Appraisal or Comparative Market Analysis
- Seller Improvement Form
- Boundary Survey.
When negotiating, you should:
- Provide the Seller with a copy of your mortgage pre-qualification letter.
- Carefully prepare all contract terms in writing, including all contingencies and addenda.
- Be sure you can meet all contract terms, including the closing date!
- Learn how to compromise, when necessary.
- Carefully evaluate a Seller’s counteroffer before responding.
- Respond to the Seller’s counteroffer in a courteous and efficient manner.
- Never guess what a Seller will do - base your decision on sound judgment and your comfort level.
- Research the market and be able to explain your offering price.
- Listen to the Seller’s comments and determine what the Seller’s motivations are for selling.
- Include, in writing, all appliances and personal property that are included with the sale.
- Determine any tax liabilities from a previous sale.
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