Negotiation Strategy: Give the Seller a Credit
Buyers are in a very difficult negotiation environment today as with nearly every offer they write they will be competing with multiple offers.
Recently one of my own agents used a unique strategy to help her clients win in a multiple offer situation. In this case they knew this particular house was probably going to appraise at a certain value but because of competing offers it might go higher than that.
Their unique strategy was to go a little bit above list price in their offer (about the level they thought the house could reasonably appraise). But then they decided to do something else. They wrote in the offer that they would give the seller a closing cost credit.
Yes, they agreed to pay $5,000 of the seller's closing costs. By doing this, the seller would net more dollars, which is no different than if somebody had bid up the price, but now they eliminated the appraisal danger.
The strategy worked! Her clients won the bid because of this unique negotiation tactic!
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