Category Archives: when home owner won’t accept offer

Negotiation Tips: How to Deal with a Difficult Home Seller

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woman dressed in white shirt screaming while looking at phone because home owner won't negotiateThey won’t negotiate. They don’t respond to your offers. They won’t accept your offer with any contingencies. Dealing with a challenging home seller can be difficult, especially when you’re in love with the property and the home seller keeps putting up road blocks to your home sale.

We’ve been part of a home negotiation or two (or three or hundred or a few thousand or…) and we’ve put together some tips to get through a home buying negotiation with a property AND your sanity.

Know your math

Before you put in an offer—and even after—do your math with your lender. Find out the difference between the monthly payment amounts between a $150,000 and $155,000 price tag, or between $200,000 and $225,000—whatever your budgeted amount—so you know how high you can go with your offer. It’s also helpful when you and the seller are a few thousand apart; that math can give you all the information you need to decide whether you can accept the offer or make a counter offer.

Don’t stretch yourself too thin (contingency-wise)

As much as you want that property, be careful about making an offer without a contingency. For example, if you make an offer contingent on the sale of your home but the seller doesn’t want to accept with the contingency, make sure you can afford to pay two mortgages before you accept.

Be creative

If price is the key point of disagreement, find other ways to get the most for your money. Ask the home seller to include other items of value to the deal (your real estate agent can assist with this), such as furnishings, pool equipment, or lawn maintenance equipment. Remember, most home sellers are focused on the bottom line, making them more open to a creative deal.

Make sure you’re not the problem

We all want a deal, but you can’t always expect to get a home for nothing. Be realistic about your price (find out what factors play a part in determining a fair price for the home you’re buying) and realize that the price may not be negotiable. If you can’t settle on the price you were hoping for, ask your real estate agent for other ways to come to a compromise (i.e. asking them to play closing costs, etc.)

Be prepared to walk away

Whenever you make an offer on a property, you have to be prepared for the chance that you may need to walk away from the deal. If the home seller won’t bend, and the sales price is beyond your means, it’s time to ask your real estate agent to look at more homes. The right home is out there with the right home owner who wants to sell.