Facebook
X
Pinterest
Copy Link
If you’re buying around Indianapolis, you need to know that price is one term out of a dozen. If not, you lose a house on price that a free term would have won. But if you do, you give the seller what they want and keep more of your money.
1. The 9 p.m. rule. Don’t pick your terms in a car at 9 p.m. after the showing, with nothing discussed ahead of time. A rushed decision generally equals a bad decision. It’s like picking out the ring right before the wedding ceremony.
2. Cheap for you, worth a lot to them. Buyers and sellers want every possible thing under the sun: the best price, the best inspection, the best timeline. What can you realistically live with, and what can you not? Find as many yesable propositions as possible.
3. The repair floor. If you’re handy, offer to skip repair requests below a set dollar amount. Keep yourself safe on the big issues: foundation, roof, mold. A door stop or a loose sink faucet, you fix yourself. Now you can go after a better price.
4. Post possession. Maybe the seller has lived there 30 years. Close on the house, then give them extra time to move out. If you’re the one with a lease that runs long, check it for an early termination clause.
5. The apple peel. We split an apple 50-50. We should both be happy, right? But I wanted the peel for a drink, and you wanted all the juice inside. Cut it down the middle and neither of us gets what we want.
That’s why you talk to the other side.
It’s not macho to bury a seller under a landslide of “we want everything perfect.” I ask the other side as many questions as I can before showings and before writing an offer, so both sides win instead of both getting hosed.
6. Where your edges line up. Before you look at a house, decide what you will accept and what you won’t.
Write your terms before you tour.
You don’t need a house picked out or a plan. If you’re wondering what may or may not be possible for you, email me at nlamkin@c21scheetz.com and let’s talk it through.
