Five Smart Home Buying Strategies 1. If you want to get the best price and terms possible you must be in the strongest negotiating position possible.
Price is only one bargaining chip in the negotiations.
The sellers may need to close escrow as soon as possible or they may be willing to pay the buyer's allowable closing costs. If you have a lender's letter of loan commitment in hand, your lower offer may prevail over another where the buyers have not even talked to a lender. I have always insisted that my buyer clients talk to a lender before we start looking at properties. Informed sellers know that these letters, while better than nothing are rarely worth the paper they are printed on. Until the buyer's credit has been examined and their income and debt obligations have been verified, serious problems can arise.