Most real estate is not priced on a take-it-or-leave-it basis so it is usually acceptable to negotiate, writes author Mark Warda in “How to Negotiate Real Estate Contracts.”
According to Warda, taking control is the first step to reaching the best deal. Here are his tips for successful negotiating:
*Know your best and worst acceptable positions.
*Concentrate on what you need, not just the position you’ve taken. Be flexible — as long as it suits your needs.
*Understand the other person’s position and the reasons behind it. Knowing what they really want will help you make an offer that satisfies both of you.
*Don’t let the other side know what you need. They can use that information to bargain you into an undesirable position.
*Never get emotionally involved. Be prepared to walk away from the deal and make sure the other side knows it.
*Don’t get personally involved with your “opponents” — no matter how nice they seem.
*Start with your best supportable position. Sellers can always lower their demand, and buyers can raise their offer on the next round of negotiations.
*Set the pace. Make the other side consider your demands first, and their needs will become secondary.
*Never be afraid to ask. If you want the seller to throw in appliances, ask for them.