Tips For Negotiating In A Seller's Market

In a highly competitive market, buyers must be prepared to negotiate more aggressively than in other markets. The following are a few tips that will help with the process:

1. Write The Offer ASAP - In this market, you need to move with a huge sense of urgency or risk losing the home.

2. Show You Are A Strong Buyer - Large earnest money and a solid pre-approval are extremely helpful.

3.  Be Flexible On Dates - Don't let closing dates keep you from getting the home you love. If you can work within the sellers time frame, do so. This gives the seller one less thing to think about and starts things off on a positive note.

4. Work Quickly - A seller appreciates a buyer who really wants their home. Also, the longer it takes to negotiate, the greater chance of another buyer coming into the picture.

5. Get It Signed! - It is not an agreement until all parties have signed, including any terms that changed during negotiations, so don't delay.

There is certainly a little more to negotiating than this, but these suggestions will put you on the right track.

With limited inventory and rates creeping upwards, competition is heating up for nice homes. A proper approach to negotiating can make all the difference in the world.