How To Deal With Annoying Sellers Who Won’t Negotiate
Even in strong sellers’ markets, homeowners who list their property for an unreasonably high price are eventually punished for their greed. However, the owners of some rare and truly exceptional homes can sometimes get away with pricing high and refusing to bargain. If you really love a home, but the seller won’t back down on their unrealistic list price, here are some ideas that may help. See: Looking Twice at Overpriced Homes.
Prior to offering a bid, buyers should ask their agent to prepare a “comparative market analysis.” To do this, the agent should gather data on recent home sales in the immediate area. Your evaluation of neighborhood sales should yield a general estimate of the value of a property that interests you.
Then, if you’re opening with a low starting offer, attach comparable sales data to support this. This is usually a better approach than complaining that the sellers are asking too much. Read on: Should Sellers Overprice or Underprice Real Estate Listings?
Assess the owners’ level of motivation to sell. Not eve
ryone with property on the market wants to sell immediately. Some sellers are just testing the market to see if their unreasonable prices will work. How can you find out what’s caused the sellers to put their place on the market? Often, your agent can obtain answers by simply asking the sellers’ agent direct questions. See: Why Overpricing a Home is Not a Good Idea.
It’s not unusual for negotiations between buyers and sellers to go for several rounds before an agreement is reached. If you really want the house, it’s worth pursuing the process, so long as the sellers are bargaining reasonably.
Recognize the signs of inflexible sellers. If you find the owner of the home you love demand a price you know to be excessive and all attempts to negotiate seem futile, its time to walk away. Chances are, you’ll find whats meant to be!