Useful Negotiation Tips for New Jersey Home Buyers

Having a great agent is no guarantee that you are going to get the house you’ve always wanted. Lucky for you, we’re here to help. We’ve rounded up a couple of useful negotiation tips for investors and interested home buyers who want to buy New Jersey houses for sale without overpaying.

1.     Think With a Clear Mind

As much as you may love the house that you’re looking at right now, don’t let emotions cloud your mind. Write down a list of must-haves and make sure that you stick to them. Don’t let a few additional amenities make you go past your budget. Stick to only what you need, and more importantly, what you can afford.

2.     Do Some Digging

The best real estate investors are master investigators. Although you can always ask your Hudson real estate agent for help regarding certain info, it’s best that you know where and how to search for the data you need.

The county property appraiser’s website, for example, is a great start. You can find sales history and construction dates, among others, there. You can also ask your agent to provide you with a Comparative Market Analysis to help give you a better idea about the average prices of properties in the area.

This way, you prevent yourself from making an over that’s far higher than the average price.

3.     Find Out Why They Are Selling

While a seller most likely will not tell you just how long they’ve been trying to sell the property, such information is available on the MLS or Zillow. If It’s been months and the price has dropped considerably, you can actually try convincing them to accept a lower offer by promising to buy the house right there and then. Conversely, you can buy a property for a lower price if you can assure the seller that you can buy their house before their “sell-by” date.

People who need to sell right away are more likely to be willing to accept a lower offer.

4.     Inspect Thoroughly

This will be your first chance to truly negotiate the house’s price, so make sure that you do it as thoroughly as possible.

Bring an inspector with you, as well as your Hudson real estate agent. Ask for their input all throughout and lay out a plan beforehand about how much you’re going to try to negotiate for a particular type of damage. Remember, some sellers just want to sell the house as fast as possible, so you can always negotiate for a lower sale price if you offer to buy the house without asking them to do any repairs. However, make sure that the cost of repairs is considerably lower than the amount you try to negotiate off of the initial price.

If you really are interested in buying the property, it may be worth it to hire an experienced inspector. Though more expensive to hire, they are more knowledgeable than the typical inspector and can do things such as check what’s behind the walls and the condition of the septic tank, among others.

5.     Get a Good Agent

The best agents are the ones that aren’t after a high buying price, but those who go to great lengths to make sure that they can negotiate a house to the lowest price possible. On that note, do try to keep your agent informed whenever you want to or already have tried to negotiate and discuss the terms with the seller.

6.     Crunch the Numbers

$10,000 may not seem like a lot, but your monthly dues may show otherwise. Even just a $1,000 difference between prices can change your mortgage considerably. So, before settling for a slightly higher offer than you expected, ask your lender to run the numbers first for you so you know exactly what you’re getting yourself into.

7.     Set an Ultimatum

Make it clear that your offer doesn’t stand forever. The seller should know that you’re ready to move on at a moment’s notice if they take too long to decide.

There are plenty of New Jersey houses for sale these days. Perhaps, it’s only natural that you’ll be interested on snatching one up, whether as an investment or to live in. Regardless, make sure that you keep these negotiation tips in mind so you can get the most out of your money.

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Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
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Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business more
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Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
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Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
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Chelsea Grant
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I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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