Buying a home is a business transaction, but it’s hard to keep emotions completely out of the process. Most sellers in today’s market already know that they need to avoid unnecessarily angering their buyers. And buyers shouldn’t make the mistake of thinking that just because the Santa Cruz real estate market is down they can get away with annoying sellers. Keep your cool this summer and avoid upsetting sellers so that your home purchase goes smoothly and for a fair price.
• Don’t put down their home. By pointing out everything that is wrong with a house, you could force the sellers to take less money, but this strategy hardly ever works. You’re more likely to anger the seller to the point that they won’t continue negotiations. That doesn’t mean you can’t fight for the best deal possible, but be careful not to shoot yourself in the foot.
• Don’t present an absurdly low offer. In today’s market, there’s often room to negotiate on Santa Cruz real estate, but offering something WAY to low will often insult the seller. You’re better off coming in with what you think is a fair or a slightly low offer — and negotiating from there.
• Don’t put off getting a pre-approved loan. There’s nothing that will frustrate a seller more than getting almost all the way through the purchasing process only to find out you can’t get financing. With your pre-approval, you’ll know exactly what you can afford so you won’t waste your or the seller’s time.
• Don’t renegotiate at the end. Never offer over what you want to pay and then attempt to ask for a massive price reduction to fix every minor repair. Of course, if a major repair needs to be completed, you can certainly expect that to be reflected in the price. Just don’t attempt to lure the seller in with a price you know you’re unwilling to pay.
If you’d like to work with a real estate agent who can help you stay cool while purchasing Santa Cruz real estate this summer, call me at 831-662-6522 or email me at Lauren@LaurenSpencer.com.
Please visit my website at www.MySantaCruzRealEstate.com for more information.