Negotiating is the toughest part of the sales process.
You have found the house you like finally. Now the uncertainty starts. So much depends on your agent at this point. His goal is to learn as much about the seller's position as possible while negotiating. WITHOUT GIVING AWAY YOUR POSITION.
His job is to portray that you are interested in the property, but not dying for it. That you have interests in other properties, or that you think the property is overpriced. NOT THAT YOU HAVE TO HAVE IT AT ANY PRICE. (unless you tell your agent that)
But if you are trying to get the sales price down to a reasonable price you can live with. That's your agent's job to help you achieve that goal. BUT IT ALSO DEPENDS ON THE SELLER. In this market it is so hard sometimes. So Metro Detroit home sellers are upside down. They have to bring money to the table. They owe too much. They might owe as much as the list price. I have seen it many times.
The problem then becomes your problem. Your choice then becomes either to pay their price or go and find another house.
But in this real estate market of 2010 it may be that you have to walk away. The sales price the seller has to get may be too high. The house may not appraise for your bank. Then you can't buy it. YOU DON'T WANT TO OVER PAY FOR ANY HOME IN THIS MARKET. My clients and I have had this happen to us with a Canton home and a Novi home lately. Over paying in this market is not the smart thing to do.
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My Month of December quote:
~ Mark Twain”
Russ Ravary
"helping make your move easier"
your local Metro Detroit Realtor helping clients like you sell and buy homes through out the entire Metro Detroit suburbs. I love showing and selling Oakland County and Livingston County Lake front homes too.
