The real estate market shifts between buyer and seller dominance. When buyers have the upper hand, the sky is the limit. Yet, when the tables turn, negotiations seem to dwindle. However, in a buyer in a seller-dominated market, you can negotiate and have your offer accepted.

1. The Right Property

To get as many of your demands met as possible, you should consider choosing a less desirable home on the best block. Sellers are just as savvy as buyers; they understand the demand for and value of their property. Typically, a less wanted home in a good area will get passed over by potential buyers. 

Often time, the home is not bad, it may just be lacking some of the luster found in the other homes. As such, the home may have been on the market longer, which means that the seller may be more motivated to meet your demands to get the property sold.

2. Financing Preapproval

A seller is looking for one thing — to sell their home. Unless you have hundreds of thousands of dollars of cash on hand, you will need financing to give them what they need. If you submit an offer with a list of demands and do not have preapproval for your financing, not only will your demands not be met, but the seller will probably only give your offer letter a second of thought. 

Get preapproved first to show that you are a capable buyer. If you have not decided on financing options yet, your real estate agent may be able to offer you a few recommendations.

3. No-Cost Rent Back

With any negotiations, you need to be willing to give some to get some. One thing to keep in mind is that the homeowner may be the seller in your transaction, but there is a likelihood that they are the buyer in another. To help with their transition from their current home to the next, you can offer a no-cost rent-back period, such as 30 days, that allows the seller to stay in the home for the period after closing. This courtesy often minimizes a great deal of stress for the seller, and they may be willing to pay back the favor by meeting some of your demands. 

The delicate balance between too much and just right can be hard to discover if you are not experienced. For this reason, the importance of having an agent represent you cannot be understated. Contact a real estate agent for more information. 

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