After looking at several Windsor homes, you have finally found the one you want! Congratulations! Now it’s time to negotiate to get the best price for your home – a price that both you and the seller can agree upon. You have learned that the seller is motivated, so does this change the amount of your first bid?
There are no set rules for motivated sellers, as each person is different and situations vary. If you know that you really want to buy this home, then it’s time to seek out more information.
1. Ask your real estate agent why the seller is selling the property.
2. You may want to consider a lowball offer to see if the seller responds. If they do not make a counter offer, then you know that they are not motivated enough to accept a lowball offer. In fact, you may have offended them. If a seller wants to negotiate further, but refuses to come down that far in price, then they may write a full-price counter offer. What that means is they want to start over. If you want the house, don’t give up.
3. If you feel like gambling, then you can always wait until the owner decides to lower the price of the home which usually occurs 30, 45 or 60 days after the home was put on the market. Of course, if it sells in that time, then you have lost the home.
4. If the buyer has received offers in the past, but has rejected all of them, try and find out why. When we see this with Windsor homes, we often suggest the buyer ask a bit more than these offers that were turned down. Plenty of times the sellers agree.
Many buyers are under the false impression that every single seller is a motivated one. This is not true. Carefully research why the owner of the home has it on the market and ask your real estate professional for their opinion. Our best advice is to always offer a reasonable asking price based on comparative market analysis.