Tips & Traps When Negotiating Real Estate
1st Edition
Published on 17. October 2005
210 pages
978-0-07-170918-7 (ISBN)
Description
Surefire techniques for coming out on top in any real estate deal A great book for anyone who is interested in real estate investing or planning to buy a new home, Tips & Traps When Negotiating Real Estate covers everything from financing and deposits, to better prices versus better terms, to handling brokers and sellers alike. Bestselling real estate guru Bob Irwin breaks down all the common negotiating points by subject, and supplies you with checklists, forms, and boilerplates at every step along the way. You learn how to: Negotiate a lower interest rate with a lender Lower interest rates with seller financing Gain a lower commission from an agent
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Robert Irwin
Tips & Traps When Negotiating Real Estate
Book
09/2005
2nd Edition
Irwin Professional Publishing
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Content
- Intro
- Contents
- 1. Negotiating a Successful Deal
- Finding the Property
- Making the Initial Offer
- The Contingent Offer
- Pushing the Time Line
- Complications
- The New Sale
- More Complications
- The Real Explanation
- At Last!
- Conclusion
- 2. Control Time
- Invest in Time
- Set a Deadline
- Act in a Timely Fashion
- The Bottom Line
- 3. Play the Players
- Never Offend the Buyer/Seller
- Beware of Choosing "Nice" People to Represent You
- Only Deal with the Person Who Has the Power to Decide
- Go Directly to the Buyer/Seller
- Always Strive for the Moral High Ground
- The Bottom Line
- 4. Learn to Act
- Disarm a Psychological Attack by Drawing Attention to It
- Be Irrational, Occasionally
- Strive to Be Innocent
- Always Ask "Why"?
- Question Authority
- Challenge the Written Word
- Make Lists
- Listen Carefully
- The Bottom Line
- 5. Walk Away a Winner
- Always Give Yourself an Alternative
- Be Informed
- Only Work on Issues That Can Be Resolved
- Never Respond to an Offer That Can't Be Closed
- Dont Stick to the "Pie" Analogy or "Bottom Line" Reasoning
- Remember That Some Deals Can't Be Made-No Matter What
- Walking Away a Winner Is No Baloney
- The Bottom Line
- 6. How to Win a Bidding War
- Buyers-Load Your Weapons
- How Do I Handle a Bidding War?
- Negotiating in a Hot Market
- Buyers-Look for Fixers
- Sellers-Stick to Your Guns
- The Bottom Line
- 7. Negotiate the Commission
- Will You Get What You Pay For?
- How Does the Commission Impact the Agent's Role in Selling?
- The Bottom Line
- 8. Negotiating a Sales Agreement
- What Should You Look For in a Sales Agreement?
- 9. Offer and Counteroffer
- The Procedure for Offers
- Why Would a Buyer Want a Counteroffer?
- Why Would a Seller Want to Counter?
- The Three Types of Offers
- The Two Types of Counters
- The Bottom Line
- 10. Leverage the Inspection Report
- How Leveraging the Inspection Report Works
- Why Would Sellers Want a Home Inspection?
- Buyers Who "Set Up" Sellers
- The Bottom Line
- 11. How to Negotiate with a Lender
- When to Negotiate for a Mortgage
- What to Negotiate in a Mortgage
- Do They Want to Lend You Money?
- 12. Negotiating without an Agent
- What If the Agent Throws Up a Roadblock?
- When Would You Be Better Off Negotiating Directly?
- 13. Negotiating with a Builder
- Getting Negotiations Started
- What You Can Negotiate
- Mortgage Buy Downs
- The Bottom Line
- 14. How to Bargain for Personal Property
- What Is Personal Property?
- How Do You Negotiate to Get Personal Property Included in the Deal?
- How Do You Keep Personal Property Out of the Deal?
- The Bottom Line
- 15. Prevail in an Appraisal Argument
- What Do You Negotiate When the Lenders Appraiser Says "No!"?
- How Do You Challenge a Lender's Appraisal?
- How Do You Challenge the State's Appraisal?
- How Do You Appeal an Improvement?
- 16. Negotiate on Investment Property
- Negotiating the Price of Income Property
- How Do You "Negotiate" the Rents?
- How Do You Negotiate over Deposits?
- How Do You Negotiate Financing?
- The Bottom Line
- 17. Win the Battle at Closing
- What Can Go Wrong?
- What Can You Do to Avoid Closing Problems?
- What Do You Do When Things Go Wrong?
- Who Controls the Escrow?
- Who Pays the Escrow Fees?
- Appendix: Negotiating Your Way Out of Foreclosure
- What Is the Foreclosure Procedure?
- What Can You Do When Youre in Default?
- In Default
- Facing Foreclosure
- A "Deed in Lieu of Foreclosure
- The Key to Negotiating Out of Foreclosure
- What You Can Negotiate from a Lender
- What You Can Do to Have a Better Negotiating Posture
- Index
