How to Negotiate when Buying Condos for Sale

in Bridgewater NJ

You’ve been looking for months at condos for sale in Bridgewater NJ and now, you finally found the right one for you. It’s time go out and make an offer on it. Negotiations requires a lot of patience and tact. The right preparation often spells the difference between clinching a deal and walking away empty-handed.

How to prepare yourself before laying your cards on the negotiating table? Here are some tips:

1. Get your finances in order. The fact is, due to stricter lending standards, it's now harder to get a mortgage for a condo than a single-family home. You have better chances of negotiating if you can pay cash since sellers prefer quick, smooth sales. Paying cash also means faster closing time giving you full, immediate equity in your new home.

2. Do your home work. Find out how much

other homes have sold for in the same area.

This knowledge will aid you in negotiating

and protect you from paying too much if the

home has been priced higher than other

similar homes in the location.

For list of comparable homes in the

Bridgewater NJ area, visit: www.

CNJHomeFinder.com

3. Keep your cool. If you think you've finally found the perfect condo for sale in Bridgewater NJ, don't show your emotions. If the seller sees how excited you are about purchasing the home, he or she will know you will be willing to pay more. Just play it cool and ask questions you can use as leverage when the time for negotiation comes.

4. Know more about the seller’s circumstances.

Find out what motivates the seller to put their

home on the market and then tailor your offer

to meet his/her needs. Is the seller in the

hurry to move? Is there divorce involved? Does

the seller already have a new place and wants a

quick closing? If the seller really needs to sell

the home fast, they’ll be more likely to

negotiate on price.

5. Expect to compromise. Let’s face it, you can’t have it all. Instead of going head to head with the seller, be willing to present options and alternatives. This shows your willingness to compromise. The key is to know your desired outcome and limitations, because if you're not prepared to compromise, the negotiations won't get far.

6. Work with the best real estate agents in Bridgewater NJ. One advantage of working with the best is their years of accumulated knowledge and experience that can streamline through the negotiation process. Find someone who you feel comfortable with from the start because he or she will be your guide throughout the whole process.

These are some of the things you can do as part of your preparation prior to making an offer. In next week's article we'll discuss the ways you can successfully negotiate and seal the deal.

For fast, stress-free and smooth home selling and buying transactions, or for any real-estate related concerns, call me, Michael Downer at (732) 302-1771. As one of the best real estate agents in Bridgewater NJ, let me help you find the home that suits you perfectly.