Wall Street Journal: Six Ways to Make an Effective

The Wall Street Journal This Morning recently did a “personal Journal update”, which discussed six ways to make an effective “low-ball” offer on a home. 

(1)  Know the Market: you should know of recent comparable sales in the area.

(2)  Bring up Issues with the Property: try to back up your offer with issues or flaws that may exist with the unit or the property.

(3)  Pick the Right Agent: you need to find a broker who will be on your side and will act aggressively in your interest.

(4)  Bargaining: it is best not to say that your “first offer” is your “last offer” so as to not lose credibility in the bargaining process.

(5)  Make a Clean and Easy Offer: oftentimes pre-approval from a lender tends to further the process.

(6)  Cash is No Guarantee: cash may not always be the best deal for a seller and it is more likely than not that a seller is only looking for the highest price.

We also have some tips of our own.  Contact New York Squared so we can share our insight and expertise on finding your next home at the most effective price. 

You can listen to the October 12, 2011 Wall Street Journal Podcast at http://itunes.apple.com/podcast/wall-street-journal-this-morning/id159752078 on minute 27:45.