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Tips for Negotiating the Best Deal When Buying a Laguna Beach Home

You've found the Beach Home of your dreams, now it's time to negotiate with the seller to make it yours. Follow these tips to negotiate the best price you can without upsetting the seller and ruining the deal.

Author: Andy Williams
Date: Dec 18, 2009 - 1:21:00 AM

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So you've found your dream home in Laguna Beach, and you’re all ready to call the seller and make your offer. But as many buyers often find, there's more to home prices than just the price tag - and often, how good a deal you get depends on how well you can negotiate. And when we're talking Laguna Beach homes, this can mean a difference of several thousand dollars.

Needless to say, it takes knowledge and experience to negotiate for a good price. To help you find the best deals on Laguna Beach homes, here are some smart strategies worth considering.

Make a strong offer. A strong offer doesn't have to give the seller all the advantage, nor should it be unreasonably low and create mistrust at the outset. Settle on a reasonable price with a good deposit, and set your terms according to local norms. Your Laguna Beach real estate agent can help you draft your offer to fit local seller's expectations.

Leave room to negotiate. This is pretty much a given, but it's especially true for Laguna Beach homes. Taking a "take it or leave it" attitude not only limits your options; it can also turn away potential sellers. Experts recommend offering around 5% less than the asking price, so you have room to spare in case the seller wants to increase the price.

Avoid clutter. Many buyers pack their offers with all sorts of contingencies, all meant to work in favor of them. Sellers see this as selfish and opportunistic, and it certainly won't help you get a good, honest deal. Write up your offer according to the commonly used format - your agent can help with that - and make sure there's nothing vague or unclear.

Get pre-approved. Sellers are more willing to negotiate with pre-approved buyers, so a pre-approval form will make your offer a lot more powerful. A pre-approval tells the seller that your lender has reviewed your records and found you suitable for a mortgage loan. Most lenders can help you get pre-approved by local lenders as part of their service.

Don't mind the small numbers. Many negotiations for Laguna Beach homes have failed because of minor issues, such as paying for the title policy. If you'd rather have the seller pay for something, just offer to cover it - and simply take the amount off your offer price. That way, you still split the costs as you wish, but you focus on how it benefits the seller.

Look beyond price. Not all sellers have the same preferences. Some are willing to settle for less and sell their Laguna Beach homes faster, while others prefer to wait it out until a good offer comes along. Find out what your seller is really after, and make an offer that gives them exactly what they want.

To check latest listings of Laguna Beach home or to consult a Laguna Beach Realtor visit: LagunaOC.com

View all articles by Andy Williams

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