How To Keep The Seller Interested When Buying A Home

In recent years, the real estate markets have been favorable to buyers leaving some sellers reluctant to play ball, especially if the buyer uses tactics that turn sellers off.

Common pitfalls for buyers typically are offensive lowball offers, mortgage snags, and subtle upper-hand arrogance. Do not let these common mistakes keep you from getting the home you want.

By following a few simple guidelines you can keep the seller engaged in the transaction there creating a win-win situation for both parties.

Say No To Lowball Offers Strategies – Working with your real estate professional to find a good buy takes understanding how home prices are determined and what the dynamics are in your market. Making an offer depends on these factors, so the offer you make should have reasonable justifications. Lowballing the seller may cause them to think you are wasting their time making you look unfavorable from the start. No home owner can afford to accept a price far below the home’s worth.

Besides, some lower than low offers may end up nowhere when the seller will not respond with a counteroffer. Ask your realtor to explain market data, such as the average ‘list price to sale price’ ratio or the average number of days homes stay on the market. Be realistic instead of hoping for a nod from the seller at your giveaway price offer. Remember that asking price is just that, but make sure the market data supports your lower offer.

Say Yes To Pre-Approval – On the financial end of real estate, being prepared is your best game plan. Even if your credit is decent and you have cash in the bank, do not assume you will be automatically approved for the amount of the loan you need to buy the house you want or worst case, a loan at all. If a seller accepts your offer only to discover you can’t get the loan, it can cause problems for you and them. Start smart by checking into mortgage options before you start looking for a home. See what banks or lenders can do for you by getting pre-approved for a loan. If you qualify for a certain amount, let your real estate agent know what price range to work from. Keep a tight hold on your spending, avoiding large purchases like cars or furniture until after the closing or consult with your lender if expenses 

like these are necessary.

Be A Better Buyer

 

Dealing with sellers requires tactfulness and a little respect for them and their home. One common misstep of buyers is showing little consideration to the seller. Being late for appointments to view the home casts you in a bad light especially when the seller has to get things in show condition and then leave. Be prompt and do not make the seller shift their schedule to fit your tardiness. 

Another is to view a home that you are not truly interested in. Sellers are assuming their house is under serious consideration by you. Don’t make an appointment just to see the layout or what patio looks like when the home is not what you want. Also, do not bring small children or pets to the showing. Sellers have entrusted their home to the realtor and the buyer for a space of time. Pets can leave behind undesirable tokens of their visit. Children should not be allowed to freely roam any occupied home. If they must come along, keep them at your side. 

Trash-talking a seller’s home does not work to get a lower price. You may motivate the seller not to sell to you and you alone. It is their home and they may still be emotionally attached to all of its charm they felt when they bought it years ago. Comparing it with other houses regarding condition, sale price or your desired renovations should only be discussed with your agent.

If the home has obvious drawbacks to you, do not think that pointing them out will suddenly make the seller change the price. Keep your comments to yourself and make sure any reasons you give for a lower offer are factually based and legitimate. Keep the level of communication at a professional one by asking your agent to relay your concerns to the seller’s agent.