Ways to Have the Upper Hand When Negotiating with a Potential Homebuyer

Ways to Have the Upper Hand When Negotiating with a Potential Homebuyer

04 August 2019 Sunday 17:29
590 Reads
Ways to Have the Upper Hand When Negotiating with a Potential Homebuyer

You need to be smart when negotiating with someone who wants to buy your property. You want to close the deal and walk away soon, but you can't settle for a small offer. You have to wait until you find the right buyer. You need to be open to negotiation, but you must have the upper hand. These are the tips to help you during that process.

Don't show that you're in a hurry

When the potential buyer sees that you're rushing the process, you won't get the price you want. The buyer knows that you're desperate for money, and you will agree even if the requested amount is way too low. Try to have a poker face while you negotiate. Even if the offer is good enough, you can't be too excited; otherwise, the buyer will change their mind and ask for an even lower price.

Find someone to survey your property

It's easier for you to know your property's value if you ask someone to come over and check the place. The surveyor will determine the overall value based on several factors, including the quality of the house, its location, and age. The repair issues and other damage could decrease its price. The point is that when you place the property for sale, you know exactly how much it's worth. You can negotiate only within a reasonable range; otherwise, you will see that it's time to walk away.

Pretend that there are other buyers

If you're good at bluffing, you can pretend that there are other buyers. You will walk away if you can't get the price that you hope. However, if the other party also knows how to play your game, it could be tricky. Make sure that if you use this technique, you know when to give in. It's also easier to say it when an actual buyer is waiting in the wings.

Talk with the buyer during an open house

During an open house, everyone is in the mood to buy the property. If they like the place, these buyers might close the deal right away. Therefore, it's an advantage if you decide to negotiate during that moment. When an interested buyer sees that other people also want their turn to negotiate, they might agree to a high price. They don't want to lose the chance if other people are waiting to talk to you.

Negotiating with potential buyers could be tricky. You need to prepare what to say before meeting up with someone. You have to be friendly throughout the process even if you think you won't close the deal anyway. However, you can't allow your emotions to show at all.

If you don't want to go through this process, then there are companies that provide sell my house cash offers online. Wholesale buyers are willing to give an offer if you sell your property to them right away. It's worth considering if you're in a hurry.

Image: https://unsplash.com/photos/uckPy5B7K4o



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