Welcome to this week's edition of Insider Real Estate Secrets Revealed!
(Educational Course for Home Buyers and Sellers)
We hope you have learned a tremendous amount from our articles and we look forward to providing more educational material to help you on your home buying or selling journey. In this edition of Insider Real Estate Secrets Revealed, we are exposing the top 3 rules you need to know before
attempting to negotiate with a home seller. We're also revealing important
information about how you can buy a home with ZERO down! So, sit back, relax, and
enjoy this edition.
EXPOSED! - The 3 Rules of Negotiating with a Home Seller
Negotiating - a word that strikes fear into the hearts of most home buyers. If you are like most people, when you hear the word negotiating, you cringe, picturing a heated confrontation where tempers flare and big numbers are volleyed back and forth across the table.
It doesn't have to be that way. It's perfectly reasonable to expect the seller to make some concessions while you do the same. Meet in the middle.
Negotiating Tip #1 - Be Realistic
When entering a negotiation with a Home Seller, you need to be Realistic. If the house you are looking to purchase has 6 bids already, your chances of getting thousands of dollars slashed from the price are slim. Negotiating in these cases may prove to simply be a waste of your valuable time. This is especially true in hot markets like Boston, San Diego and Miami.
Even in a case where the home seller is willing to make concessions, and you have a strong bargaining position, you should never attempt to 'go for the throat'. Be reasonable. If you know the home is priced $3,000 above what you are willing to pay, tell the Seller that the home is priced $3,000 too
high, but that you would be willing to sign a Purchase Agreement today if the were to bring the price down $1500. This way, it's a win-win all around. The seller is happy and you walk away content in the knowledge that you successfully slashed $1500 from the home price.
Negotiating Tip #2 - NEVER Show Your Cards
Remember the old country song by Kenny Rogers that goes 'you've got to know when to hold em' and know when to fold em''? It's true with Poker and it'scertainly true in Real Estate negotiations. When you walk into the home of your dreams, don't scream out, 'oh it's beautiful - I'd do anything for a house like this!' Around the Seller and the Seller's Real Estate Agent, keep your emotions in check. If the
Seller is aware that you are in love with the home, they will have a strong bargaining position. But if they think there is a chance you will walk away from the table, they will be more willing to negotiate on your terms.
Negotiating Tip #3 - Do Your Homework
It's time to go to school. First, you need to make a checklist of everything you want in a home and then prioritize the list. Amenities you can't live without should top the list and then the other items should be listed in descending order of priority. If you know what you want before you start, it will make the entire process easier, and give you an idea of how much leeway you have in negotiating (i.e. if you are in love with a home and it has everything on your list, you may be less apt to try and haggle the
Seller's price down). You also need to be aware of what market conditions are like in your
area. Take this simple quiz and see if you know the answers:
1.) Are you aware of the supply and demand statistics of home
inventory vs.
sales made this year?
2.) Are you aware of what % of total homes listed for sale actually sold
last month
3.) Are you aware of how the total % of homes sold last month can
positively
affect how you structure your purchase offer?
4.) Have you assessed the best use of your cash and planned to
maximize your
leverage?
In short, have you prepared a Home Purchase Strategy? We participate in many real estate transactions every month. Over time, we've learned a thing or two. Our staff would like to help you develop your personal strategy and consequently help you save thousands of dollars in the process.
We call this our Homebuyers Coaching SessionR. We put our experience to work for you, preparing you to make an informed, money saving offer. We do this at no cost.
Why? Simple - if we do a good job helping you prepare, maybe we can earn your mortgage business. We are sure willing to try. Are you willing to spend 30 minutes with us? If so, please fill out our 'Home Buyers Coaching Session' request form on our website.
Don't wait, Request your NO-COST Home Buyers Coaching Session NOW. Visit our website to sign up. We'll contact you right away to schedule your appointment.
How YOU Can Buy a Home with ZERO DOWN
Gone are the days when a qualified buyer needed $10,000+ in savings as a down payment just to qualify for a home mortgage. In the last few years, a number of new and exciting homeownership programs have been established to help qualified buyers afford a home with NO Down Payment whatsoever!
Homeownership has some great advantages. You can build equity, while
getting a tax break at the same time. And then there's the pride of owning something you can truly call your own. There is no place like home, and it's time you owned your piece of the American Dream.
Here's how it works:
First, you have to meet some pre-qualifications. While we can provide mortgage loans to just about anybody, including those with some credit problems, the ZERO down loan is reserved for those individuals who meet the criteria set forth below.
NOTE: If you DON'T meet the criteria specified in this report, we can still help you! Read our NO-COST Report, entitled 'How to get a loan, even if you have bad credit' by visiting our website!
To Qualify for ZERO Down Home Loan, here is what we need:
Item #1- Proof of 3 Years Stable Employment History
You will be required to show proof of employment for the past 3 years. Proof will come in the form of a written verification of employment from your employer.
NOTE - If you are self-employed, you can still qualify! You will simply need to provide 3 years worth of financial statements proving a stable income.
Item #2 - Reasonable Debt-to-Income Ratio
We want to make sure you are comfortable and not struggling to make your payments each month once we grant you a loan. Therefore, we will need to know about any monthly payments you currently make. If you have credit card balances, auto loans, or student loans, that's OK, so long as they do not exceed a certain percentage of your monthly income.
Item #3 - A Good Credit History
Although we can even loan money to people with some credit problems, for a ZERO DOWN loan, it is imperative that you have a clean credit history. This means that you have been keeping current with your monthly payments for other liabilities and have also not had any serious delinquencies in the last few years.
Item #4 - Property Types are Limited
You cannot buy an apartment complex or commercial property with a ZERO Down Loan. Properties that you CAN purchase using a ZERO Down Loan include detached or semi-detached homes, single-family properties, certain town-homes, and condominiums. For more information on what property types
qualify, contact us.
So, do you meet the criteria set above? If so, we look forward to telling you: 'Congratulations - You're Approved!'
