Working With Real Estate Sellers When Buying A Home: What To Do
Posted on: 26 August 2021
When you're buying a home, you'll work with real estate sellers loosely as part of the process, especially if you have hired a real estate agent to work on your behalf. Still, there may come a time when you have to communicate with the sellers in particular, or even meet with them if you are viewing properties they are still living in.
When working with real estate sellers, doing the right things can help make buying a home easier for you. Follow these tips on what to do so you know what to avoid to help close the deal.
Be mum about how you feel about a house
A seller doesn't need to know that you love or hate a property; all real estate sellers need to know is if you're interested and serious about making an offer. Any personal thoughts you have on a home, especially if you love the property, should be shared only with your real estate agent as you prepare an offer.
Why? It's simple: real estate sellers want to make as much money on their properties as possible, so if they know a buyer is very interested, they may be less likely to negotiate, knowing that the buyer is more likely to cave. Be mum on your interest in a home so real estate negotiations aren't skewed either direction.
Be mum about your finances
If real estate sellers know you have a lot of money to spend or put down on a home, they might reject a low-ball offer, hoping they can get more money out of you. Likewise, they may balk at accepting an offer you put on a home if you make it known you don't have much in the bank. All real estate sellers need to see is your pre-approval to buy a home for their peace of mind, and negotiations can continue fairly after this point.
Be mum about your options
Real estate sellers don't need to know how many other houses you're looking at or how many offers you've put out there already, unless it's to help them come to a decision about counter-offering on a property you've put an offer in on. If real estate sellers suspect you're just looking at their houses for fun or that you are indecisive, it might make them less likely to take you seriously when you do put an offer in.
The best thing to do is to work with real estate sellers with the assistance of your real estate agent. This way, communication will go more smoothly and you won't have to worry about making the right impression when you buy a home.
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