Negotiation Tactics
- How do I negotiate with a seller directly?
To negotiate directly with a seller, focus on understanding their needs, building rapport, and making a clear, fair offer. Be prepared to discuss price, terms, and timeline, and always get any agreement in writing. - What is a good offer price for off-market?
A good off-market offer price is typically below market value, often 70-80% of after-repair value (ARV) minus repair costs for investors. For owner-occupants, it should reflect the property's condition and the seller's motivation, but always based on local comps. - How do I make an offer without a realtor?
To make an offer without a realtor, you can present a written purchase agreement directly to the seller. You'll need to handle negotiations, disclosures, and closing tasks yourself, but hiring a real estate attorney can help ensure everything is legal and complete. - Should I use a real estate attorney?
It depends on your state and the complexity of the deal. In some states, attorneys are required for closings; in others, they're optional but can be valuable for contract review and title issues. - How do I handle seller objections?
Listen first, then address the concern with facts and empathy. Common objections include price, timing, and trust—each requires a tailored response. - What contingencies should I include?
Include contingencies that protect you without scaring off the seller. Common ones are financing, inspection, appraisal, and title, but in off-market deals you may need to waive some to compete.