Five Ways Buyers Stall Negotiations

Five Ways Buyers Stall Negotiations

Unclear Communication

Communication is key during the home buying process. Be sure you are clearly communicating with your agent throughout the process, and be honest with them. Your Agent is on your side, so share your preferences, concerns, and questions with them. Their job is to secure the best deal possible on your next home, so keep the lines of communication open and trust that, as non-commissioned agents, they have your best interest in mind.

“Our only motive is to make sure [you] get the house, and it’s the right house for [you].”

Justin King, Lead Buyers Agent Headquarters, Dallas

Not Having Shopping Parameters

Before you can start making serious offers, you need to know what you’re shopping for. Make a list of non-negotiables for your next home, and then add a separate area for things you would like but that are negotiable. Use your list to filter online property searches, and save time by only viewing houses with your Agent that meet your criteria. If you start shopping without any parameters, you’ll spend a significant amount of time viewing homes that you have no interest in– increasing the amount of time it takes before you can close on the home that’s perfect for you.

Not Pre-Qualifying for a Loan

You can’t submit an offer until you’re pre-qualified for a loan. In fast-paced markets like Dallas, Houston, Austin, and San Antonio the time it takes to get a pre-qualification letter can mean the difference in getting the house or not. Being pre-qualified before you start the shopping process means you’re ready to make an offer the moment you decide you like the property– increasing your chances of moving on to negotiations for your dream home.

Not Making Competitive Offers

Submitting an offer that is 5% or more below the seller’s asking price is not a good way to start negotiations. Most homes on multiple listing sites are competitively priced, and faster markets generally see multiple offers per home. A low offer is guaranteed to stall your home buying process.

“If you’re interested in a home, be serious about your offer.”

Justin King, Lead Buyers Agent Headquarters, Dallas

Haggling Over Minor Repairs

Anything structural, electrical, plumbing, or safety based requires negotiation. Those are the most expensive repairs, so your real estate agent will negotiate the best deal possible for those items. Smaller repairs that require $50 or less for supplies, are best left out of negotiations, especially if there are larger items that need repair. Simple, inexpensive repairs can stall or even end negotiations if sellers feel nickel and dimed. Ask for repairs on big ticket items, but plan to change the doorknobs yourself when you move in.

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