Three negotiating tips to help Colorado Springs buyers win the home.
Our Colorado Springs housing market can be very tricky for buyers right now. So here are three crucial negotiating tips to help you succeed:
1. Use a local lender. By using a local lender instead of a national one, you’ll have better access to them, whether you call or show up at their office. Local lenders also have relationships with plenty of real estate agents in the area, so you’ll know you’re getting a good lender if your agent recommends one. Additionally, the term “cash is king” is often true, and there could be a local program that will help you pay with cash so you can compete with all the other cash buyers. There are many other reasons to use a local lender; these are just a few. Having a great relationship with your lender will only help you.
2. Write a strong purchase contract. A local lender can help you with this too because they can provide a great program and help you close quicker. To make your offer stronger, you may want to consider waiving your inspection and buying the home as-is. Another tactic is to offer post-occupancy to the seller. They might need to find another home before moving, and allowing them to stay in their current house will shoot you to the top of the list.
You could also offer an appraisal gap, which means you’ll pay the difference between the purchase price and appraised value. You need to work with a professional agent to negotiate a strong contract.
3. Form a relationship with a top agent. Relationships matter! The Pareto Principle states that 80% of consequences come from 20% of causes, meaning 20% of the agents in your area are doing 80% of the business. The top 20% know what sellers are looking for and the right questions to ask. Having a solid relationship with your agent will help you win negotiations.
If you have any questions about buying or real estate in general, call or email us. We would love to help you.