How to Know a Seller is Ready to Negotiate
Everyone loves a good bargain, especially when buying a new home. When you can buy your dream home for a good price, you’ve already won. But when a seller is ready to negotiate the price down even further, it’s a win-win situation. Here are four signs to look for when a seller is ready to negotiate.
Key phrases in the listing
Just because a seller is ready to negotiate doesn’t necessarily mean they’re going to be blatant about it. Instead, they’ll use phrases in their home’s listing. Look for key phrases such as “priced to sell” or “motivated seller” when reading homes’ listings. When you see these key phrases in a home’s listing, the sellers are likely ready to negotiate the price.
Overheard from the seller’s agent
It’s quite common that the seller’s agent is the one to hint at a possible price negotiation. Perhaps the sellers are getting divorced and need to sell the home as soon as possible or the sellers have their new home already and don’t want to shell out two mortgages. Whatever the case, see if your agent can get the scoop from the seller’s agent.
Number of days on the market
The number of days that a home is on the market can be very telling as to whether or not a seller is ready to negotiate. When the listing date and the number of days on the market don’t match up, this typically means that a buyer backed out. Every now and then, buyers back out of the sale, which leaves the seller in an unsettling situation and more likely to sell you their home for a bargain.
Doesn’t show well
You can learn a lot about whether or not the seller is ready to bargain during the home tour. Are there boxes everywhere? Junk mail piling up? Little effort in showing the home often means that the sellers are willing to negotiate on the price. Of course, if the home is completely empty and void of any decor or furniture, the sellers have likely already found their next home and want to sell the home as soon as possible, which means you’re in for a bargain.