There are many bargains to be had in the Cotati real estate market for those who know how to negotiate. From doing market research to negotiating the terms of the sale, here are some general tips for securing the best deal possible.
Know the Market
When getting ready to buy a home, it’s worth learning about current real estate market trends in Cotati and the surrounding communities. Get a feel for the local housing market and find out whether market conditions are more favorable for buyers or sellers. Learn about average prices, available properties, and new real estate projects in your desired location.
Gather Information
When it comes to choosing homes, it would also be helpful to know what property types, layouts, and architectural styles are available in your desired location. Collect information on living space, acreage, and other details so that you know how small or large residential properties are in a given area. This will give you an idea of what to expect from the property search.
Use Comparable Sales
In addition to home prices and housing inventory, it also helps to know about recent sales in the Cotati area. Are sellers able to get the asking price? Do buyers offer higher or lower than the listing price? Keep your ears on the ground, browse sold listings, and gather as much information as you can. Using recent comparable sales will make it easier to justify any offer or counteroffer you’ll make. This piece of data can serve as the basis of your negotiating strategy.
Know Your Priorities
With so many gorgeous homes on the market, choosing can truly be the hard part. Streamline the property search by identifying which property features and amenities are most important to you. Set criteria for suitable properties before viewing homes. This will help you make informed decisions and help you stay focused during negotiations.
Know Your Price Range
It’s easy to get carried away when searching for a new home. Determine your price range based on your financial capacity and set limits on how much you’re willing to spend. It’s common for the sale price to go higher when there are multiple buyers competing for the same property. You’ll have to decide how far you’re willing to go.
Hire a Real Estate Agent
Consider working with an experienced real estate agent who can offer valuable insights into the Cotati housing market. A skilled agent can help you make a strong offer and navigate negotiations. They will let you know whether you’re getting a good deal or overpaying for a home based on relevant market data.
Stay Flexible
In addition to the sale price, you will also discuss other terms, such as the closing date, repairs, and sale inclusions. When negotiating with the seller, it’s important to know when to make concessions and when to stand your ground. Stay flexible and make reasonable demands during this time. Know your priorities and stick with them.
Keep Emotions in Check
With both sides trying to secure the best terms for themselves, negotiations can be fraught with tension and conflicting interests. Moreover, it’s common for buyers to become attached to a property and make emotional offers that can lead to overpaying. Let your agent guide you during negotiations and stay as objective as possible.
If you’re ready to buy Contati real estate, let me, PJ Lange of Better Homes and Gardens (BHG) Realty, help you negotiate the most favorable terms possible. With over 30 years of sales experience, I know how to spot a good deal for my real estate clients. You can contact me at 415.794.1761, send me an email, or fill out this form for any questions.