The 7 Biggest Home Price Negotiation Blunders

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Seriously you feel good about taking advantage of people who have no furniture or heat?

Elizabeth of FL 10:27PM May 20, 2012

This was actually very helpful to me as a seller...Now I know the tactics that my potential buyers may be using. :) Thank you.

Hannah of NH 2:43PM January 24, 2012

Is there something similar for negotiating with a builder while buying a new home. Here are my comments on this article:
1. If you know the seller is in a difficult situation, you should hardly be using that information to exploit him/her. Use it to get to a fair price - fine. Remember - bad karma will get you somewhere else.
2. Question - how does one go about finding comparable price of a home in a new development where no much new is available in the immediate vicinity except homes being offered by your builder.
3. That is interesting point. Couldn't you negotiate better by telling them that you do not need a mortagage and will not take the mortgage and your budget is only $xxx,x00.00.
4. Yes - dead on. Not having options puts you in the same situation as seller would be in #1. It is just a house - you can always find another one ;-)
5. Meeting in person is the least you can do. For that price, I can even unite with their soul ;-)
6. Specific number - that is hard to do even for a car. Although, it will be nice to know what is a good number :-)
7. Agreed, if it is within my budget. On the other hand, if I am paying cash. $5000 is still a lot of money and if I can't afford it - then I can certainly afford some ego and use it to walk away ;-)

Yash of MD 12:24AM January 01, 2012

We just made an offer 27,000 less than asking, in hopes that eventually we will meet in the middle without too much stress. WE come up 15 thousand, they come down 14 thousand. Now we plan to re counter at with 8,000 more. Does this sound like we are working toward meeting in the middle. It is a divorce situation, and we know how much was paid for the house. We want a fair deal, but truly don't want to rip anyone off. We are selling our house too, so we can relate with both sides. :-)

Marc of KY 11:23AM August 17, 2011

"If you are capable of paying cash, the sellers may hold firm to their asking price, he adds, "because it means that you are a person of means."
Huh? You are a person of means so you will overpay for something? I thought that people get stupid when buying something on credit, not when using cash (look at all the expensive cars people buy on credit that they would never buy if they had to use cash).

John of GA 5:21PM July 15, 2011

B. Vergara of FL you seem to have some insight on this thanks for your comments.

Bee of VA 3:52AM July 11, 2011

We are looking at new construction. Why am I finding that they want to negotiate price on a house that has'nt even been built yet? They gave us the "we were pre planning to build this house at a total price of $#+#%^^^ " bull crap. COME ON DUDE!!! These sellers/ builders are so desperate for sales these days that they will try anything. Any help on negotiating price for New construction?????

Bee of VA 3:41AM July 11, 2011

It's no wonder these scumbags have such a bad reputation. It's so typical for these leaches to talk a good game about how they are the market experts and how you will get $x very quickly. And when offers come in thousands of dollars lower, they presure you to move because $10,000 to you is only $300 to them. Our agent (soon to be ex-agent) literally told me that the market was both cold (in selling, so we would take less quickly) and hot (for buying so that we would move quickly and pay up) in the same conversation. They are the most unsophisticated, overpaid, self important group of people I've ever come in contact with. Hey, Mr. Realtor - don't forget, you're a frigging realtor. Realize that although people pretend to like you, the majority of people don't.

Jimmy Walker of VA 1:12PM April 23, 2011

The days of the realtor are over -- with a little bit of Internet savvy anyone can find home listings, make appointments, and research the comp prices (zillow.com). I bought my first home in 2003, sold it in '06 for a 30% profit, and now just got an offer accepted by a new home builder for 25% less than asking and 15% less than any home they've sold in the last 6 months.

Bruce of OH 8:57AM July 01, 2010

Offered cash, no inspections, and to pay all closing cost. Sellers would only come down 5% off asking price.
The home buyers credit turned into the sellers credit.

rintintin of NE 2:24PM April 12, 2010