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Getting the Deal You Really Want on that House

By Allison Halliday | June 5, 2014

Home sellers and home buyers are usually focused on two things which are the listing price and the offer price. But an article in points out buying a home isn't always about the price, and that even though it might be unrealistic to expect a big discount, there are other ways to get the deal you really want if you're prepared to get creative.

If you're living in an area where there's fierce competition for homes, or even if you just don't want to pay full price, thinking outside the box can increase the chances of success. One way to do so is to offer a quick closing, as this is sometimes more important to sellers than the price. It could be that the sellers already have a new home in mind and want to be moved in before a certain time, for example the start of the new school term. Additionally, if they have already bought a new house they could be a little nervous about having two mortgages. Being able to find out this knowledge can be invaluable, as the seller may well be prepared to negotiate on price if you can close within a month compared to someone else offering a little more who may need 90 days to close. Offering a quick closing can also give you an edge if there is more than one buyer after the property.


Another very creative solution that could work in certain situations is to offer to rent back a home to the seller as most will need to get equity out of their current home before purchasing a new property. Offering a quick closing and renting back home to them for say three months could give them valuable breathing room. This type of flexibility is likely to be very popular with sellers in this situation and is unlikely to make much difference to anyone currently in rental property and who is looking to purchase.

Sellers are also more likely to view a lower offer more favorably if it includes terms that make their lives easier. Some buyers have come up with innovative solutions such as purchasing leftover garage sale items at the marked price, or allowing elderly sellers who are downsizing, to leave old and unwieldy furniture that would be difficult for them to get rid of.

Real estate agents may have the necessary information for buyers to get creative about their offer so it's worth asking the listing agents lots of questions as to the seller’s needs and wants.

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.
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