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Three Simple Negotiation Strategies For Maximizing Your Buying Power:

If you want the best possible house for your money, then write up a clean and strong offer and be fully ready as a buyer. You must demonstrate to the seller that you can get the deal done without glitches. Here are ways to maximize your potential:

1. Get Pre-Approved. Have the lender check and verify all your information so that you are actually approved for a loan. This is not the same as a pre-qualified where nothing is verified. A pre-qualification certificate is not worth much as many problems can surface when the lender starts verifying the information. There could be credit report problems, alimony payments due, recorded judgments, income overstated, among many other items that could pop up. Pre-approval shows you are already approved for a loan and all that’s left is to get the house approved as well. Getting a home approved for the loan may require inspection(s) and appraisal.

2. Get Your Property Sold First. A seller does not want to accept an offer that is contingent on you selling your house first. If a seller accepts an offer contingent on your home selling in the next 3 months, then the seller’s home goes into a bumpable position. When the seller’s home is in a bumpable position many Real Estate Agents will pass over it and not even consider it when showing prospective clients/buyers’ homes. For them to be willing to put their home in the bumpable position they would need some incentive. An incentive could be agreeing on a higher price, putting down a non-refundable sum of money or if you could show the seller that your home will sell quickly and why. Most sellers will accept a lower offer over a higher offer with a contingency when it comes to selling their home.

3. Offer Substantial Earnest Money. If two offer’s are the same except one offer shows $500.00 in Earnest Money and the other one offers $3000, the seller is going to choose the offer where they will receive the $3000 if the buyer walks away from the deal. The $3000 shows the seller they are more serious and are in a better position to purchase.

Darlene's Housing Tips Articles:

What is Section 8 Housing?
What Does It Mean To Have A Green Home
Smoke Alarms: They Save Lives
Light Bulbs: What's the Scoop?
Everything about Home Inspections
How to Make Money With Rentals

Title Insurance Do I Really Need It?

What Are "Comps" And How Are They Used To Determine Value?

Common Selling Mistakes

3 Key Negotiation Strategies for Maximizing your Buying Power

Tips to Home Staging
Reverse Mortgage Is it Right For You

Landscaping a Way Towards Great Curb Appeal
How to Save on Your Heating Bill
Home Staging Keys to Profit

Holiday Tree, Lights, Decoration Safety

Opportunities vs Obstacles in the Housing Market

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