When it comes to buying Boston condos for sale, negotiating is one of the most frequently misunderstood aspects for downtown real estate buyers. It’s possible to save thousands of dollars by taking the time to negotiate, but doing it incorrectly could end up costing you more money than it saves. There are a few negotiating mistakes that can even kill a Boston real estate transaction. Whether you’re shopping for Boston Seaport condos for sale or downtown Boston high rise condo, the next time you negotiate for a home, make sure you avoid these dangerous strategies.
Boston Downtown Buyers Asking for More and More
Some condominium buyers ask sellers to provide add-ons like furniture and new repairs that weren’t part of the initial listing, and when the seller does give in, the buyer just keeps asking for more. This is a bad strategy because it ends up making the Boston downtown condo buyer look like he or she is trying to take advantage of the seller. It’s generally best to only try negotiating about things that are actually on the listing sheet, but if you want to ask for more, only do so with caution and in very limited terms.
Making Small Increases in the Offer
Some buyers try raising their offer by small amounts each time. This negotiating tactic might work for something like the price of a piece of furniture, but it’s normally not effective for big sales like a home. Each offer takes time and effort to consider, so you’ll just be wasting your time as well as the seller’s. Eventually, the seller may get tired and start looking at other offers instead.
Being Overly Critical During the Inspection
Buyers often try being hypercritical because they worry they’ll get charged too much if they admit to loving the Boston Seaport condo. However, selling is also an emotional process for many homeowners, so nitpicking over every aspect of their home may just annoy them. Using minor problems brought up in the inspection as a reason to try for a lower price could end up costing you the home.
Low-balling the Seller
It’s common to submit an offer that’s a little lower than what you want to pay, but you need to exercise some common sense and avoid ridiculously low offers. Especially in today’s Boston downtown real estate market. Unless the seller is absolutely desperate, he or she is probably going to ignore an abnormally low offer and just move on to others. Even if you’re not competing with other people, a low-ball offer can seem insulting because it tells the seller you think the home is worthless.
Not Budging at All
Some buyers make the mistake of thinking they can avoid negotiation and gain respect by telling the seller “This is my best offer. Take it or leave it.” However, being too stubborn tends to backfire because Sellers can react to this by becoming defensive and digging in their heels too. Even if you cannot offer more money, try offering other perks like a faster closing time.
Negotiating the price of a Boston downtown real estate can be a enduring process, so to maximize your chances of getting the condominium you want, make sure to hire professionals with experience in every aspect of buying Boston downtown real estate.
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