Are you interested in buying a home here in Northern Virginia? Whether you’re moving in to the area for work or you already live here and you’re upgrading to a bigger home, when you enter the real estate market you’ll soon understand that there are many different types of seller out there and each has their own personality. In today’s blog post we’ll share a few pieces of advice on how to handle stubborn home sellers.
Find out What’s Motivating the Seller
Buying a home is a major transaction and since you’re almost certain to end up in some sort of negotiation process with the seller, it’s worth spending some time trying to determine their motivation for selling the home. Are they moving out and need to sell? Are they trying to avoid foreclosure? Did they buy a new home and need to sell this one? Your stubborn seller has a reason for selling, and knowing what it is will help you later on.
Be Flexible with Your Purchase Terms
If you find that the seller has certain “deal breaker” terms that they clearly won’t budge on, consider whether or not they’re important to you. Being flexible with your purchase terms will give you control of the negotiation as you can give in on terms the seller deems important while changing others to make them more favorable to you. For example, if the seller wants to be able to stay in the home for an additional month or two you can try to adjust the price accordingly to make up for the lost time. The more you’re willing to adjust your side of the deal, the better your chances of success.
Be Prepared to Offer Your Maximum if Needed
If the seller seems to be motivated by nothing more than the price of their home you will need to be prepared to offer your maximum if necessary. Trust in your real estate agent’s advice when choosing how much to offer on the home as they can provide details as to how long the home has been on the market and whether or not it has been discounted since the listing first went live.
If All Else Fails, Throw the “Hail Mary”
If you feel that you’ve exhausted your options in dealing with the seller and you’re getting ready to walk away from the deal, it’s time to make that last-ditch offer. If you’re absolutely set on buying this particular home you have no alternative anyway, so spend a few minutes consulting with your agent to determine a price and terms package that is simply irresistible. As you already know what is motivating the seller you can give in on terms that are important to them, provided they are sacrifices you’re willing to make. Make it absolutely clear to the seller that a rejection of this offer means that you’re walking away from the deal.
Dealing with stubborn sellers can make your purchase a bit more interesting, but with a little work you’ll be able to negotiate a deal that works for both parties. The team here at The E4Realty Group is here to support you with your next home purchase in Northern Virginia – and we’re more than happy to help with challenging sellers. Contact us at 703.722.5018 or by email on our contact form today.