Strategies for Negotiating in Today's Market

Today's market requires that we work together enabling you to be well prepared when you find the home you want to buy. Below are some recommendations to put you in a strong position to negotiate.

1. Get pre-approved by a loan officer before you start looking at homes. Not only will this help determine your purchasing power, but it will allow me to present you to the seller as a cash buyer.



2. In order to demonstrate your ability to perform, be prepared to offer a larger earnest money deposit with your agreement to purchase.



3. Have as few contingencies in your purchase agreement as possible. The less time the seller's home is tied up in a hot market, the more attractive it makes your agreement.



4. Depending on the circumstances of the house you choose to buy, you may need a competitive edge. If necessary, I recommend you consider one of the following:
• Come with me to the contract presentation. Although you would not be in the presentation itself, having you there to answer any questions the seller may have or respond to any changes that may come about could give you a competitive edge, especially in a multiple contract presentation.
• Attach an escalation clause to your contract. This allows me to elevate the price of your offer to a prior agreed upon amount without you present.
• Write more than one offer. If your contract gets countered or rejected, I will then have written permission from you as to when to use the alternative agreement.



5. Part of my job is to help the seller see why their home would be the right home for you. When you find that home, be prepared to write a letter to the seller as to why you have chosen to purchase their home.



6. Save yourself time with the convenience of Long & Foster's One-Stop-Shopping. We provide mortgage financing, home insurance, title services, home warranty services, moving services and more!



7. I may have other recommendations for you at the time you find your new home. If we work together from the beginning, success will be easier to attain.

Long & Foster and I thank you for choosing us to help in your home purchasing process! Together we will make this a rewarding experience.

© 2001-2003, Hank Prensky. All rights reserved.

Hank Prensky, Realtor®
Long & Foster Real Estate
301 585-2255 home office  |  301 455-4427 cell phone 
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