It doesn’t matter how low an offer one puts for a house, they are always going to wonder if they paid too much, and for good reason! Unless you are a master negotiator when it comes to bargaining, no matter the type of purchase, one can easily drop the ball and end up paying more.

Don’t be too hard on yourself; the circumstances of such negotiations are usually out of your control. But what is in your control is your mindset before walking into a negotiation with your real estate agent.

You Might Have To Walk Away, Be Prepared For It

Even if the house you’re considering meets all your criteria like, design, amenities and convenience. Don’t go in telling yourself that you “cannot lose this house”, as you are likely to overpay. Rather, consider your situation and decide a scenario that is the most practical for you, and be prepared to walk away if you best offer isn’t good enough for the seller.

Ensure Your Offer Has an Expiry Date

When you place an offer on a house, you don’t want to give the seller a lot of time to consider other offers. When placing your best offer, remember to consult your realtor and give an appropriate expiration date. This strategy can also start the negotiation process early if the seller believes you are the best offer he is likely to get in the time frame provided.

Display Good Faith with Earnest Money

If you are interested in a home you can sweeten the deal for the seller by giving a large amount of earnest money. If you or your real estate professional recommends an amount of $2000, make a $4,000  earnest money deposit. This will give the impression that you are committed.

If you are considering the purchase of a home in Chandler or Tempe in Arizona, observe these negotiation guidelines when exploring the real estate market.