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If You Beat the Sellers up on Price, Don't Expect Great Concessions Too

Everybody wants to make a good deal, and working a motivated seller into a bargain purchase price is the goal of most buyers. Be sure to talk to your Realtor about how this will influence the process in almost every aspect through to closing. You should know that getting a seller to their rock-bottom price line will generally insure that they will not agree to further concessions for repairs or money to correct inspection problems. As long as you are educated about this fact, you will hopefully avoid the deal falling through due to seller remorse or inspection correction negotiations. This has been particularly true when writing offers on real estate in Corona del Mar and Newport Beach. This is due in part to an overall "skimpy" equity position. This has left a narrow channel to negotiate on price & concessions together. - Michael Parker, Corona del Mar Real Estate Broker
  • November 26 2012 - Corona del Mar
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