Real Estate Bargain Hunting Strategy for Home Buyers
Saturday, February 11 2006 @ 03:46 pm UTC
Contributed by: jron
Signs of home appreciation going a slow-paced movement, that is after a 5 year excellent growth rally. Because of that prospective buyers, it's market provides a chance to revisit an old tactic and also re master it.
The art of the lowball offer, it's a strategy for securing a below-market price which varies by its locality. Although experts say bargain-hunting buyers can close deals by applying few basic principles, that apply in any region.
For that cause we'll provide a bargain hunting tips for prospected home buyers:
#1 - Buy in the off season
- Robert Irwin said that "The best time to buy a house is the week between Christmas and New Year's Day, Why? No one is looking." Irwin. is a real estate investor.
#2 - Accept imperfections
- Although it is expected that a lot of buyers are searching for a spacious, well maintained homes.
Ilyce Glink, a real estate writer and talk show host said "To secure a low price on a home, buyers ought to accept a few shortcomings," and also adds "This might mean a property that needs repairs or faces a busy street. It could also be a home in a more run-down neighborhood that appears to be improving."
#3 - Accept Rejection
- Don't be disappointed if a seller turns down your initial offers. Thomas Early, president of the National Association of Exclusive Buyer Agents said "Never make an offer you think they will accept," and also added "Make the seller say no at least twice. It's too easy to say no the first time."
#4 - Find A Guide
- Bob Wilson, an agent with the Guiltnan Group in San Diego said on an advice that "A lot of buyers think that 'If I call the listing agent, I'll get a better deal.' That's not true," Because he said that listing agents have a duty to get the best possible price for the seller.
#5 - Look For Motivated Sellers
- They say that the more desperate the homesellers are to sell their homes, the better chance that you can accept discount offers. Chris Edwards of Raleigh, N.C. recommends that "look for listings that have been on the market longer than normal. In Edwards' market, a well-kept home in a good neighborhood typically sells within a month. Sellers with homes on the market two months or more are probably more receptive to lower offers."
#6 - Don't Fixate on List Prices
- It is known that a property's listed price simply reflects what a seller hopes to get, They say the true value of a home might not be reflected in its listed price, don't just be fixed on a price try to negotiate.
There you go, 6 list of tips to help you to hunt for a bargain, it's up to a buyer now to execute the tips or go on their own strategy.