8 Ways to Spend Less and Motivate Woodland Hills Sellers
You’ve found the perfect Woodland Hills house. You love it and can’t wait to move in. The problem is with the Woodland Hills sellers. You just can’t quite meet the asking price, and the sellers are refusing to budge.
If you’re looking to spend less and motivate Woodlawn Hills sellers more, check out our quick guide and get ready to move in.
Try a Cash Offer
It’s hard to turn down a cash buyer. With a cash payment, Woodland Hills sellers don’t have to worry if the buyer will be able to secure a mortgage lender or not. The cash is paid and that’s it.
Cash payments are a great way to help convince Woodland Hills sellers to lower their price. If the seller is looking to move quickly, this could be what puts your offer above all others, even if you’re still a little low
If a cash offer just isn’t doable, make sure you have a pre-approval letter from your mortgage lender as well as proof of your down payment. That will at least put a seller’s mind at ease.
Ask the Woodland Hills Sellers What They Want
Everyone has their selling goal. Some people want to hit a certain number. Some people need to be out of their homes soon as they can move across country or into a new home they’ve already purchased. Take the time to find out what your seller really wants. That will give you some negotiation ideas that help get your seller exactly what he or she needs.
One tip would be to ask the seller what his or her escrow period is. Some prefer a short one to a long one. This is a great starting point for you to make negotiations.
Move Past Contingencies
Contingencies tend to hold up the sale of a house. They are requirements that must be met or the deal on the home falls through. Inspection contingencies, loan approval and appraisal contingencies can make for a longer closing date. For Woodland Hills sellers who want to get out yesterday, no contingencies can seal the deal.
Offer to Rent Back to the Sellers
Maybe the Woodland Hills sellers are looking to move, but they’re caught in a chain of sales. In order for them to move, they have to wait for their new home’s seller to clear a deal with another homeowner. Rather than being homeless, your sellers then delay accepting a deal at all.
To help this situation, you can offer to buy the home and then allow the owners to rent from you until they’re ready to move. In return, they may lower the price.
Write Them a Letter
Woodland Hills sellers have hearts, too. They’ve loved their home, and although they usually care about the net profit the most, they often want to see their home go to a person who will love it as much as them. Write the sellers a letter explaining why you chose your home and why you can’t wait to enjoy their home as much as they have.
Buy Their Furniture
For those sellers moving across country, unloading furniture can be a major perk. Make a separate transaction, and they may just accept your offer.
Get Creative
Do you own a business or have a lucrative hobby? If so, try offering the seller a free product or service. If you own a painting company, for example, offer to paint the seller’s new home free of charge in exchange for the price reduction. In the end, you’re both winners.
Get Real
If you can prove that the price is inflated, gently ask your agent to point this out to the seller. Use comps and other neighborhood statistics to show that the price is actually too high and what you’re offering is far more reasonable.
You can also point out repairs the house needs. This can sometimes get sellers to budge because they factor these repairs into the equation, and suddenly, their home becomes worth a little less.
To motivate your seller, consult your agent. He or she will be able to give you ideas for how you can better motivate your seller in Woodland Hills and still get a great price.