Thinking about sometimes go slow when discussing real estate deals? It’s about the power of time investment. I would like to explain with a story.
One of my less-pleasant experiences selling real estate was when I offered a home for a real good guy, and the buyer was a lawyer. I used to be a new comer to property, and this lawyer knew all of the angles. Without getting into all of the dirty tricks he used, I’ll just say that the client had everyone else included frustrated, angry and worn down.
As one last blow, he arbitrarily decided that he wanted the cost lowered by another $5,000. Going To family attorneys los gatos probably provides suggestions you might give to your brother. Since is hardball bargaining. The vendor was almost willing to discard the entire deal, but he’d been attempting to sell the home for 2 yrs, and we’d been working with this customer for weeks. None of the agents or brokers involved wished to see all their work go for nothing.
There were three agents under two agents involved in the sale. We all agreed that suing the customer was not worth it. Visiting campbell real estate attorneys probably provides tips you should give to your mom. As an alternative, we gave in. The owner had enough of the customers techniques, therefore each of the other five parties to the sale (3 agents, 2 agents) agreed to each forfeit a $1,000 of the payment, just to make the deal close.
This is an extreme case of using \”time investment\” to your advantage. After investing so much time, none of us wished to lose everything. The lawyer used it, and realized that. In this case, there is nothing in the contract that allowed him to negotiate the cost, rendering it unethical in my own mind. Still, it was powerful.
Negotiating Real Estate Deals – Legally
In other cases, it’s only good negotiating. If you want to get the best value on a, do you think you’ll get it after spending two minutes using a salesman? Let him invest two hours demonstrating you cars, and he will be begging the director to allow the vehicle select your low offer. The exact same is true with property negotiation.
Advise owner about time, to let him remember the time he has already invested. To complete this politely, say something like \”Look, neither of us really wants to lose some time we have allocated to this and start all over, so why do not I.\”. Then provide some small concession.
He is subtly warned that he might lose his entire time investment with nothing to show because of it. The language \”start all over\” could even scare him. You set the scene, and then you provide a way out. That is non-offensive also, if done right. You say \”Neither of us..\” to let them know you are both within the same situation, and it is not only you threatening them.
This really is, of course only one means of many for talking real-estate deals. Make an effort to learn several, at the very least.Arthur A. Ferraro Attorney at Law
31 E. Julian St.
San Jose CA 95112