891: How to Negotiate a Deal When It's Under Contract
We’re about to share the secrets NO seller wants you to know about. These secrets could save you tens of thousands of dollars on your next home purchase, and most buyers have no clue about them. In fact, these secrets are so rarely used that most agents don’t know how to take advantage of them until it’s too late. Today, we’ll unlock the best-kept negotiation secret in real estate investing: negotiating AFTER your offer has been accepted.
New investors and first-time homebuyers think the time to negotiate is BEFORE their offer gets accepted, but this couldn’t be further from the truth. Once an offer is accepted, buyers unknowingly gain a TON of leverage—leverage that can be used to get seller credits, a reduced purchase price, concessions, and more. And this isn’t just some negotiation theory that works only in psychology textbooks. David has used these tactics NUMEROUS times to save his clients thousands of dollars and get them EXACTLY what they want out of the seller.
And if you’re a seller, the reverse works in your favor. Knowing these negotiation tactics can help you STOP buyers from taking control once you’re under contract, giving you the upper hand while they struggle to find faults in your house. So, if you’re about to buy a property, are under contract right now, or WANT to invest in the future, these negotiation secrets MUST be followed to score a great deal.
In This Episode We Cover:
How to negotiate a real estate deal when you’re ALREADY under contract
The two stages of negotiation that most buyers/sellers have zero clue about
Home inspection red flags that CANNOT be ignored (and can get you HUGE seller credits)
The one thing you never, EVER ask a seller to do when under contract
Seller disclosures 101 and what sellers must tell you about a home before you buy
How to get a lower price, seller credits, or concessions while mid-contract
The one thing sellers should ALWAYS do (but DON’T) before they accept any offer
And So Much More!
Links from the Show
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Books Mentioned in the Show
SOLD by David Greene
SKILL by David Greene
SCALE by David Greene
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-891
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices