Negotiating...........

Sometimes doing something new feels a little bit scary! However, scary can also be exciting at the same time! For the last few months I have been house hunting. I have been trying to find a perfect little house that would be the perfect fit for my life and NaKoda and after months of hunting I think we finally found out place!

Now, the negotiating starts. When buying a home negotiation is the name of the game and one must know how to handle themselves in order to get the best deal for their money! Not everyone is great at negotiating. I have to admit that it is one of my least favorite things to do, but as a single woman I have learned that there are certain tricks to it and what may appear to be a negative can end up actually being a positive when negotiating!

I remember the first time I bought a brand new vehicle. I was so proud of myself because I was finally in a position to be able to afford a new vehicle. I went to dealerships looking for just the right vehicle. I knew I wanted a truck and I knew exactly what I wanted. At every dealership I was ignored. I actually had to find the sales associate to have my questions answered. I was so offended. A couple of times I took my boyfriend with me and I noticed during those visits that the sales associate would ignore me and speak to him......hello people who work on commission..I am the one with the money! It just so happened that that boyfriend couldn't have bought his way out of a wet paper bag because his credit was so bad! It became so bad, that I actually had to make the comment to a couple of the sales associates, "hey fellas I am the one with the money to spend - he has nothing to do with this truck purchase!"

Here I am again about to make another major purchase! I found an adorable 2 bedroom house that is exactly what I have been looking for! Now, that I have found the place how do I get it at a good price?

1) Information - gather information on the com parables in the area. These comparables are called Comparable Market Analysis (CMAs). CMAs list houses in a location that are currently on the market, have sales pending on them, have expired from the market, and have sold. It is primarily the SOLD properties that you need to be concerned with. What houses are on the market for is not always a good indication of what their value is, those that have pending sales will only tell you what the listing price is (not what it is going to sell for) and those that have expired because they haven't sold may indicate that they didn't move because they were overpriced.

2) Preparation - always be prepared! Arm yourself with information such as

Condition - does the home your interested in glow in comparison to others? What type of visible repairs exist? What's the reason for selling? Have you been pre approved? Sometimes being pre approved by a lender will show the sellers that you are a viable buyer and that they need to pay attention because you want their home! Have an inspection done of the home before making an offer. What kind of "hidden" problems exist such as electrical problems, plumbing problems, energy efficiency issues, foundation issues, etc.? All issues such as the ones listed above can be used as negotiating pieces when trying to agree on a price.

3) Realism - be realistic. Some sellers are firm on their price and won't budge or won't budge enough. In the event this happens, DO NOT be afraid to walk away. Sometimes this is also an excellent negotiating tools, because if a home has been on the market for awhile they may stop you before you hit the door and meet your price!