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We are taught from our earliest years, in our introduction to trading, that prices are prices.

Whether you walk into a clothing store, supermarket, gas station, or coffee shop, posted prices are generally non-negotiable. Generally speaking, trying to haggle in cases like these won’t get you very far.

This is because the seller has a business that is running perfectly selling the products he is selling at quoted prices, so he does not need to entertain the low priced, when he can sell the product he is trying to get cheaper, at lowest price. Final price.

But who is the seller of a house? An individual like you, me or any other human being.

No matter how corporate a sign in front of the house looks like, and how many barriers are put between you and the seller, who is a human being, you still end up getting your offer in their hands, despite passing through many other people’s hands. in the process. They have no corporate policies to adhere to – how much they will accept is just a matter of how happy it will make them.

When a seller signs a listing agreement for, say, for $500,000, he doesn’t say $500,000 because he wants $500,000. They are saying $500,000 because they want their house to be sold, and they understand that a buyer will see $500,000 as a reasonable price, causing them to make an offer and then the house to be sold. Until then, the house is nothing more than “For Sale,” whether it’s listed for $5 or $500,000.

Once the house is on the market for a month or two, they won’t be as committed at $500,000. Because their house is still “For Sale” and they want it SOLD!

Here are 4 tactics you can use to get a better price…

1. How many days on the market?

In hot markets, a house will only need a few days, or in some cases, hours, to sell. In these cases, you can forget about making a deal, since there is a lot of competition. A low offer will simply be ignored.

However, if the house has been on the market for 45 days and has seen no action, an offer for less than the asking price is better than no offer.

Look at it this way; If you were trying to sell your bike for $200 and placed classified ads in the newspaper week after week and got no response, which of the two scenarios would you prefer?

a) An offer of $100

Prayed

b) No offers at all

So that means if a house is listed for $329,000 and your budget is $300,000, your offer for $300,000 suddenly won’t look too bad.

Remember, if the house hasn’t sold yet, that means there haven’t been any good offers, or any offers at all! An offer that works for you could very well be an offer that works for the seller!

2. What else is on the market?

Why is the $5 sandwich you can buy at the food court being sold at the airport, sports game, or movie theater for $12?

Simple: that’s what everyone else charges! If a place raised its prices to $12 in the food court, no one would go there because other establishments in the same food court only charge $5.

In the same way that while a listing can swear up and down that this is the “best deal on the market” and “a great investment” at $450,000, if a similar house on the same street sells for $379,000, no one is going to to go. to offer on that house for the simple reason that the extra $71,000 is not worth it!

Is this a sign that you should move away since that house is priced too high? Absolutely not!

It’s common knowledge that the house down the street is asking for just $379,000. By making an offer of, say, $385,000 to the house listed for $450,000 and saying in the offer, “The house down the street is listed for only $379,000. This is my offer.”

If this shows them that your offer is what the market will accept, then you have what you want (the house) and they have what they want (sold!).

3. What happens to the house?

Whether there is something wrong or not, find something to complain about.

Is the carpet stained? Are those appliances falling apart? Does that wobbly handrail make you uncomfortable? Say something!

It may be one thing for the house to be on the market for a long time, or for other houses in the area to be priced lower, but another thing for the house to have defects.

Instead of asking the seller to fix them, make a lower offer with those flaws in mind.

Now, you’re probably thinking, “But I’ll have to pay to fix those things, right?”

Either way, a little ingenuity can solve most problems quite cheaply.

Carpets: Rent a carpet cleaner at your local home improvement store or lay a coffee table over larger stains to remove them. You may have even planned to replace them anyway to match your furniture!

Accessories: If your appliances are falling apart, they are most likely old appliances. Does your city offer incentives for new, more energy efficient appliances? This could be the perfect opportunity to not only get your shiny new appliances cheaper, but also have them taken away for free!

Parapet: If you know someone who is a handyman, in most cases, all it takes is a couple of small fixes to make a handrail stable again. At worst, replacing most interior handrails will only cost a few hundred dollars, so it’s not worth letting it get in the way of a decision worth millions of thousands of dollars.

4. How badly must the seller sell?

One of the reasons people use agents to sell their home is to avoid direct contact with the buyer. If the seller has personal circumstances that might affect the amount the buyer can offer, he’ll want to keep it less obvious.

However, look for the clues when you walk around the house. The personal effects can give some hints about what circumstances in the seller’s life might be causing them to sell. A Canada Revenue Agency brochure on the taxation of a retired person is an indicator that someone in the household (probably the owner) is retiring. Well-maintained children’s rooms that look like they haven’t been lived in for some time can tell you that your children have moved away for school and the house is now too big for them.

Also, look for keywords like “motivated seller” in the listings. Remember, they are motivated to sell – not to get your selling price. That is secondary. A sale for less is better than no sale for nothing.

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