May 16, 2010

Learn of Any Deadlines

Closely related to learning as much as possible about the other negotiating party is to understand the importance of time in a successful negotiation.
One of the crucial elements of real estate negotiation is time. Understand and master the use of time, and you can buy a home for thousands less. When you negotiate an offer to purchase a home, timing is important. The longer it takes to negotiate an offer, the more flexible a seller becomes. When a seller is more motivated, using time to your advantage will have a more significant impact on the negotiations. Alternatively, the longer it takes to negotiate an offer, the higher the chance that another buyer will make a better one. While it depends on the home seller’s situation, generally the longer a home is on the market, the more flexible a seller will be and the more impact negotiating time will have on them.

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