As a Buyer, when you are looking at homes, and especially when deciding to make an offer, always remember to be considerate of the Seller. More than once we have seen deals go south because one or both parties thought the other was being unreasonable or inconsiderate. In contrast, we have also seen offers and negotiations go very well when the Seller ‘liked’ the Buyer. Even though in the end this is a business transaction, it is also a very personal and emotional time for those involved. Please follow these tips when you set out to buy your next home.
Consideration associated with a contract is generally thought to be the price and terms but being sympathetic and courteous towards the seller could make a difference in getting the home you want.
Business people, like store owners, expect to deal with customers and even come to expect behavior that might not be accepted in a purely social atmosphere. Homeowners, on the other hand, may not be aware of what to expect. They are opening their home to the public for review and criticism. Buyers may be detached from emotional feelings while the sellers might react unfavorably to comments that are taken personally.
- Low Ball Offers are Insulting. If a property just came on the market why would a seller even consider an offer that is 5-10% below the asking price? In today's market there are enough buyers that will be coming forward with a well thought out and considerate offer.
- It’s not a good negotiating technique to list the defects. Most people become defensive when presented with a list which could have the opposite effect of helping you get a better deal.
- Negotiations are generally finished when a contract is completed. It can be frustrating to continually be asked for “one more thing.” Make a deal with the seller and live with it. If there’s something you’re not sure about, specify it in writing in the contract
- Don’t sweat the small stuff. Try to focus on critical items of a home like location, floor plan, layout, size and not dwell on cosmetic items that are easily and inexpensively changed.
- Be on time for appointments; cancel if necessary. The sellers may be rearranging their schedules and making an additional effort to make it convenient for you to see the property.
- Limit your visits until you actually own the home. It’s natural to be excited and making plans to move into your new home but it is still the seller’s until closing and they’re making plans to move too.
Some things are obvious: the seller wants the most for their home and the buyer wants to pay the least possible. Showing consideration to the seller throughout the process can actually benefit the buyer. You never know when something may come up that is going to disrupt the process before Closing, so stay on the best terms possible throughout.
