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Negotiating Tips for Homebuyers

By Tara-Nicholle Nelson | Published: 11/01/2007

Don't let another buyer get a home you really want. Respond to counteroffers as quickly as possible to show the seller you're serious.

Don't let another buyer get a home you really want. Respond to counteroffers as quickly as possible to show the seller you're serious.

Remember these tips during the deal-making process of your home purchase:

1) BE QUICK ON THE UPTAKE
It is critical to respond to counteroffers as soon as possible, and to avoid making a counteroffer as to any term that is not truly a deal breaker. Delays in responding leave space open for another buyer to step in and create a bidding war, or even more likely, for the seller to perceive that other, serious buyers might be out there. A seller's mere perception of a hint of a whiff of the scent of a potential bidding war is a homebuyer's number one nemesis, ratcheting up the possible sales price in the seller's head on an exponential basis.

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