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How to Negotiate to Your Advantage
When it comes time to make an offer on a house, make sure you have all your ducks in a row. The negotiation process may very well be the most important aspect of buying a house. It's imperative to ask the seller why the house is up for sale. There is always a myriad of reasons. Make sure the reason the house you are thinking of potentially buying is being sold for a sound reason. The more you know about the seller's motivation the stronger your negotiating position becomes. Certain sellers need to move because of job relocation. Some sellers are known as "motivated sellers" due to a divorce, or they have already purchased another home and they need to sell their existing home quickly.
Negotiation, when performed properly, can be an effective tool. Using it correctly can end up saving you hundreds or even thousands of dollars. It is important to look out for your interests, and not to over pay for a house. But the other side of that coin is making sure you consider the seller's interest as well. There is a fine line between getting a good deal, and insulting the seller. This can sour the deal and fix it so that not only are you turned down on your initial offer, the seller can refuse any more offers from you all together.