3 Things to Do When a Property Seller Won’t Budge on the Price

by Fern Devito | Sunday, Aug 5, 2018 | 497 views

Woman showing documents to the clientsIf you’ve dealt with a Tri Cities real estate, then you must have come across one or two steadfast sellers who won’t negotiate. You try to be nice to them, but they won’t listen. They aren’t even willing to work towards finding a middle ground. However, they have the property that you must have. What do you do? Before you give up and walk away, why not try these ideas?

Find out what the seller really wants

Few sellers would refuse to budge on the asking price without a reason. Work towards finding out their exact needs, so you know how to motivate them. Could it be that they want to see a pre-approval letter first from your lender? If so, then go get it before attempting to negotiate. If they want a shorter escrow period, be ready to oblige to get them to listen to your offer.

Be prepared as you start negotiations

If a property has caught your eye, then chances are it has attracted other potential buyers too. Prepare for a bidding war. To get ahead of your competition, make sure you have the necessary documents with you, from a pre-approval letter to HOA documents. Even better, be willing to readily sign the contract.

Waive all contingencies

It’s unlikely that your competitors will be ready to waive contingencies, so opting for the opposite approach can give you an edge. If, after inspecting the house, it appears to you that the property is in reasonably good condition, inform the seller that you’re ready to buy it just the way it is. No seller can find that resistible, no matter how stubborn, and you’ll likely get a lower price.

When faced with a stubborn seller, it’s easy to throw in the towel and walk away annoyed. However, by using a little tact and creativity, you can get them to budge and end up with your dream property.

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