Negotiation Mistakes Home Buyers Should Avoid 

Lol I can just imagine all the fake offer that people overpaid for in the last two years lol

I said this!!! How do you even know they are being truthful with the offers?

Agent owners think their homes are worth more than the market and they don’t have a rational agent pointing out the truth. If the agent is being truthful then the owner’s hope is someone would bid up to the price in the Seller/Agent imagination. If the Seller has had the home 2 or more years then the low interest rate and cash flow could make a more attractive Rental while the owner waits a few years for a more Seller Favorable market. Until more sales are “Distressed”, read “Desparate”, the seller’s have the right to remain hopeful. If your agent has 15+ yrs in the business ask about the buyer’s burden of water and pest damage in Distressed homes. Happy shopping.

The whole market is about tricking people into paying way too much.

One of the other buyers may have added a bit of earnest money for them to take the home off the market while they complete the rest of the home buying process.

Nonsense.

@@inexplicable01 why?

Yeah no shit

@@scdtla3237 😂

There is no such thing as an “underpriced home” anymore. If it is that means it’s not in a good location or the home is a dump. Beware of the homeowners that list considerably higher than the market only to give a “price cut” which isn’t any cut at all. It’s games Owners/Agents play. No such thing as a deal in this market so in reality you are still buying an expensive house with a high interest rate.

Your house is going to be "upside down" for a few years.

@@thejuicerr cmon man don’t wish that on anyone, he got the prices he wanted and it’s worth whatever he paid for it to him

@HEC892 I don't wish it on anyone. It's simply the market forces. Interest rates are going to increase, the economy is bound for a recession, and unemployment will rise.

@@thejuicerr maybe. but just like tHE stOcK mArKeT I’ll expect it to bounce back. I can always refinance if I don’t like my interest rate in the future when the market crashes. I don’t plan on moving for 7+ years. And as Javier says all the time, don’t buy unless you have a need. And I do.

@@angel67lver best of luck

Where is your market?.

@@manny1094 Central PA

Here in the Bay Area, it’s still like that. Things aren’t selling a million over asking anymore, but it’s still a sellers market in my opinion. It’s very geographic and you’re going to be dealing with a lot of offers if the area is desirable and the population has capital to spend. A lot of people have the idea that, once interest rates go down, the housing market will skyrocket again adding to the fact that we still have historically low inventory. It’s sad tbh.

Inventory is short and there are more buyers than homes. And sellers, especially retiring folks are taking full advantage of it. In my area NY / NJ, buyers have no choice but to waive appraisal contingencies (I would never waive inspection) AND pay 5% higher just to get their offer looked at.

​@@billnewman7355 oh wow I want to buy in NJ but definitely not for at least 5 years or so.

Do you like the home?

@@spf_500Thanks for asking. We don't love it but it works. That said, we wouldn't have been able to afford it with the higher interest rates.

@@o.benaicha5272screw them

Was just thinking about this. Going up to the owners giving them a letter with an offer

If you got the property about 15% below listing price sounds good. As long as you look at comparables and the property is indeed worth asking price. Keep making offers on other properties, fall in love with the deal, not the house.

@@brandoinjoque692 listing price is hardly relevant anymore since so many people are pricing things way too high. What matters is the value of the home.

You lost, but you probably have a house now so it doesn’t matter 👌🏽

Good luck bro hope it worked out

I want to hear the answer to this as well...

That could really make them uncomfortable...I wouldn't. Also, I truly have zero desire to meet or see owners, I want to picture it as my new home, not think about others who lived in it.

3%I think

@@serahkimani8562 my realtor said the seller pays 6%. That seller pays for buyers %. I'm in Oregon.

How so?

Elaborate

What makes you say that? We currently have 1.8 months' worth of supply of homes in the PHX Metro. Super low inventory

I’m a Realtor, and even I do not trust Realtors. So far, brokers seem to be the biggest scumbag even to other agents that work below them *ironic lol*. The good ones, even lenders, who I feel genuinely have your (client's) best interest at heart, seem too few for such an important job. It's disappointing for me because it took awhile to find a mentor who didn't seem like a scumbag and whom I could admire. She's an old soul and will be retiring soon. She would be the only person I trust as my agent besides myself.

Damn. Now I worried lol

Are you going to write your own contract and offer?