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Linda Willer

RE/MAX Action Real Estate
Charlottesville, Virginia
Real Estate Agent
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Is the Asking Price Negotiable?

he financial strength and qualifications of the buyer will have a huge impact on negotiation ability. The more financially attractive you are as a buyer, the more attractive your offers will appear. To be financially strong, you can make a large downpayment, sizable earnest money, and/or pre-approval letter from your lending institution.

The housing market will have a big influence on how a buyer negotiates. To evaluate that market, answer (1) Is it a buyer's or seller's market? (2) How long have other similar properties in the area been on the market? (3) Is it the slow time in a seasonal cycle? (4) How high are interest rates? (5) How's the local economy?

Generally, a strong economy brings lower interest rates and more buyers, a stronger negotiating position for sellers. High interest rates generally mean fewer buyers, therefore a "buyer's market" with better negotiating position.

The law of supply and demand can have a strong influence on the strength of the buyer's negotiation. (1) How does the property compare to similar properties in the area? (2) How long has the property been on the market? (3) Are there any other offers pending on the property? Have there been any other offers? Why did they fall through? (4) Does the property need any repairs?

The point is to create a win-win situation for both parties.

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Linda Willer | 434-985-4094 | Contact Me
1770 Timberwood Blvd, Suite 101 - Charlottesville, VA 22911
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