How to Negotiate with a Lender: What to Negotiate in a Mortgage To put yourself in a position to negotiate with a lender, you have to remember that the lender is not doing you any kind of a favor by lending you money. It’s a mutually (or should be) beneficial trans action. You need money; … Read more
How to Negotiate with a Lender – When to Negotiate for a Mortgage Nicole’s problems (a true story by the way) stem from several misconceptions on her part. Like most people, she believed there was no possibility of negotiating with the lender. Then, when she was delivered an ugly mortgage that she didn’t want, she … Read more
How to Negotiate with a Lender Most people believe that you can’t negotiate with a lender. You take what they have to offer or not. It’s that simple. For example, Nicole was buying her first home, a condo, and needed to secure financing. The price was $240,000 and she wanted to put no more than … Read more
Leverage the Inspection Report – Buyers Who “Set Up” Sellers Buyers can “set up” sellers, although it is not principled and if the seller finds out about it, can cause the deal to be lost or make the negotiations much more difficult. As a seller you should try to be aware of these “set ups.” … Read more
Leverage the Inspection Report – Why Would Sellers Want a Home Inspection? A not so obvious reason for a home inspection is that sellers also want it. This is largely due to the fact that we live in a litigious society, and buyers have successfully sued sellers for either damages or rescission (when the deal … Read more
Leverage the Inspection Report – How Leveraging the Inspection Report Works It’s important to understand that today virtually all home transfers include a professional home inspection. As noted earlier, the reason for this is twofold. The first and most obvious reason is that buyers want a better handle on what they are purchasing. Most purchasers … Read more
Offer and Counteroffer: The Two Types of Counters The seller has only two realistic choices in a counteroffer: Highball. The seller rejects the buyer’s offer and comes back almost to the asking price. The seller’s motivation here is simply to keep the negotiations open in the hope that the buyer will eventually “come around.” Compromise. … Read more
Offer and Counteroffer: The Three Types of Offers Buyers can make three kinds of offers: Lowball. The offer is ridiculously below what the seller is asking. The hope is that the seller will counter at a compromise price. “Close to asking. ” The buyer simply wants the property and is willing to pay the seller’s … Read more
Offer and Counteroffer: Why Would a Seller Want to Counter? As a seller represented by an agent, you probably don’t have much of a handle on what kind of a person the buyer is. (That’s the rea son I sometimes recommend face-to-face negotiations.) Rather, you have to judge partly by what the agent reports, but … Read more
Why Would a Buyer Want a Counteroffer? In before post, we discussed how much to offer for a property. We were talking about making a serious offer that the seller would accept. In a great many instances where a deal is actually made, die seller’s counter contains only minor changes. However, sometimes as a buyer … Read more
