Profile picture for Nancy  Tran

Nancy Tran

Agent

Broker

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Short-Sales, Foreclosures

Advice

  • (2 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

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If I can pay for a condo directly from my savings (no bank loan ) do I have a negotiating advantage?

Answer

Yes, you will have some kind of negotiating power but your offer should be comparable to market value also.  Low-balling an offer may not help even if it was all cash because there could be other qualified buyers interested who can put the 20% down, have a pre-approval, quick closing date and more favorable conditions.  Hence if this was the situation the seller could opt for one of those offers and you will lose out for low-balling even with cash financing. 

  (0)
How low should one lower the price

Response

Hi there -Be realistic and keep an open mind when it comes to selling and buying a home.  A thorough market analysis will help you price your home competitively.  Also, it is essential that you and your agent are knowledgable about your target market (i.e. what comparables are being listed for, what they are selling for, how long they have been on the market, and other trends).  Lastly, be comfortable and honest with the agent you are working with because they are working in your best interest.  This will enable you to communicate any concerns or ask questions when needed in order to sell your home at the right price. Good luck!Regards,Nancy

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