Anti-Checklist: What Not to Do When You're Making an Offer or Negotiating
Don’t even bother trying to justify a lowball offer. (Believe me, the seller and their agent were well aware that there’s an electric tower in the backyard when they set the asking price.) Avoid these buyer faux pas when offering on a house.Disparage the Property, Its Location, Condition, etc. -- Don't even bother trying to justify a lowball offer. (Believe me, the seller and their agent were well aware that there's an electric tower in the backyard when they set the asking price.)
Ask, or Care, How Much the Sellers Paid for It or Long They've Owned -- Fair market value is what it is, regardless of how much money the seller is making on the home. When you sell the home, you will not be willing to take less than your home is worth just because it has appreciated a lot. Why should the seller?
Disregard the Seller's Wants and Needs -- Why mess around when you can create a win-win and get a quick "yes"? Especially if their wants and needs are non-monetary or within what seems fair for the property
Lowball the Seller -- That is, don't lowball the seller of a fairly-priced property. Even if the property is overpriced, the seller is probably pretty unreasonable and chances are low that they will accept your lowball offer anyway (unless it has been on the market a long time or the seller is really broke!)
Be Rigid and Inflexible -- Seriously, does it really matter to you if the seller needs a rent-back or wants to close a little bit early? Does it matter enough to lose the home over?
Disregard Standard Market Practices -- You'll signal your naivete and turn the listing agent off big time. If you know your offer will be way out of the norm for your area, have your agent call the listing agent ahead of time to explain (a) that they understand the terms are unusual, (b) why you need the unusual terms and (c) why your offer should be accepted despite being somewhat unconventional
Get Overly Attached -- It ain't over until your offer has been accepted, no matter how good the offer
Become a Stalker -- If it is meant to be yours, it will be. So don't stalk the home, Open Houses, the listing agent, etc. If you need to stalk anyone, stalk your own Realtor. She'll understand, and she'll love you anyway!