How to Negotiate as a Buyer or a Seller

Right At Home Daily: Ilyce's Corner
Ilyce Glink for Right At Home Daily

Many homebuyers and sellers think they can better negotiate than the other party in the transaction. This often leads to a frazzled and protracted negotiation for a property, which leaves tempers exhausted and sore feelings.

The best way to negotiate is to sit back and think about what you really want to get out of the deal.

Sellers, you should think about the minimum amount you'd be happy to take for your property. Think about timing, what fixtures you want to take with you, and whether or not you'll negotiate if the inspector finds problems with your home.

Buyers, you should think about the maximum amount you'd be willing to pay for a particular property. Think about when you want to move, and if you'd be willing to trade a longer closing time for a lower purchase price.

Unfortunately, negotiations don't always work out the way you hope they will. The one thing the good negotiators know is when to throw in the towel.

Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.

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