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Beginners Real Estate Investing Guide
Real Estate Investing - Ask
Questions Before Making an Investment
First Time Real Estate
Investor
Real Estate Investing - Planning
Your Investment Strategy
How to Find Real Estate
Investment Properties
Getting a Professional Home
Inspection
Large Profits From Inexpensive
Real Estate Repairs
Real Estate Investing - Costs
and Fees
Real Estate Insurance
and Risk Management
Real Estate Investment Risk
Part 1
Real Estate Investment Risk
Part 2
Getting The Best Return For
Your Investment
Creative Financing
For Real Estate Investors
Real Estate Investment Tax
Considerations
Real Estate Rental Properties
- Great Investment or Nightmare
Real Estate Foreclosures - Great
Deal or Headache
Flipping Real Estate for Profits
Slow Return On Real Estate
Investments
Negotiating for the Best Possible Real Estate
Deals
Real Estate - A Time to Buy and a Time
to Sell
Creating Your Real Estate
Investment Strategy
Investing and Growing
Your Real Estate Portfolio
Commercial Real Estate
Investing
Real Estate Marketing
Understanding Real Estate Law
Do You Need An Real Estate Agent?
What The Real Estate Mortgage
Lender Sees
Do You Have A Career In Real
Estate?
Rural or Urban Real Estate
Investments?
Real Estate Investing on the
Internet
Real Estate Investing
- Property or Paper? |
Real Estate Investing - Introduction
Real Estate Investing - Negotiating for the Best Possible Real Estate Deals
Real Estate Negotiations can be tough, and take special skill. Some people
are born negotiators, and others have to learn the skill. Still others never
really get the concept down. But when it comes to real estate investing,
negotiating is a skill that you must have. Few people can actually say that
they got everything that they wanted in a real estate deal.
Before you begin any negotiations, do your research. Knowledge really is
power, and this is especially true in real estate negotiations. This doesn't
mean that you have to dig up dirt on anyone, but you do need to know what
the current market situation is. You need to know the real estate laws, tax
laws, and you need to know the seller's situation - are they in a hurry to
sell?
Are they close to losing the property because of foreclosures or tax leins?
Have they had a death in the family? Do they need to relocate? Are they getting
divorced? You aren't digging up dirt, but the more you know about their
situation, and how it relates to the property you are considering, the better
you will be able to negotiate a price you can be happy with.
Most people are not going to start volunteering information. You've got to
get this information by being a friendly person and talking to them, with
general conversation. Tell them some unimportant personal information about
yourself, and see what they have to say in return.
You also want to know if there are other offers on the table that the seller
is considering. The more you know, the better off you will be. Don't forget
knowledge gained in having a pest control inspection and a professional home
inspection as well. Flaws and problems that are found can be beneficial in
a negotiation.
Know the market. Look at comparable properties. What are their purchase prices?
Look at the neighborhood. Look at the neighbors. Look at everything. It can't
be said enough - the more you know, the more solid the negotiating ground
you stand on. What are the economic conditions in the area?
Once you've done your research, make sure that you are further prepared for
negotiations with your financing lined out. This goes beyond getting
pre-qualified. You need to be pre-approved. When you have the cash for the
purchase ready, you are better able to negotiate.
When making an offer, use 'off' dollar figures, such as $176,200 or $243,750.
This makes the seller think that you know something that they aren't aware
of. Make sure your offer is fair, however. When determining what you will
offer, go with the mid range of the spectrum in terms of the value of the
property. If your offer is too low, your seller won't be interested. If it
is too high, you won't have any room to negotiate.
There is more to negotiate than the price. Negotiate the price, the closing
costs, insurance, title searches, repairs, realtor fees, and anything else
that is related to the real estate transaction. Make sure that you remember
that negotiating means giving and taking. You must be willing to
compromise!
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Beginners Real Estate Investing Articles
How to Advertise a Rental
Property
How to Build Equity
in any Real Estate Market
How to Find Motivated
Sellers
Developing a Profitable Real
Estate Investing Strategy
Bird Dogging: Getting Started in
Real Estate Investing
Buying Your First Home
Using Lease Options to Purchase Real
Estate
Real Estate Foreclosures
Increase Your Net Worth Through
Real Estate Investing
Interest Only Mortgages
Real Estate Investing
No Money Down Real Estate
Investing
The Power of the Lease Option
Real Estate Investing Tips
Real Estate Investments
Refinancing Your Mortgage
Loan
Paying Your Mortgage
Selling Your House without a
Realtor
"Subject To" Real Estate
Financing
Using Trusts as a Real Estate
Alternative
Search for Beginners Real Estate Investing Information
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