You probably already know some of the secrets of how to make an offer on a home. You offer less than you’re willing to pay, right? That’s the most common negotiation technique. For experienced investors, though, that’s just one technique among many more powerful ones.
How To Make An Offer
1. Offer an odd amount, like $161,735. This gives the impression you know something the seller doesn’t. He may think you have a good reason for that particular price.
2. Play dumb and ask questions. Talk slow, ask for help, and never show off your real estate expertise. Sellers are afraid to budge if they think a smarter person may be taking advantage of them.
3. Use the “limited authority” technique. Try “I’ll have to check with my wife (or partner).” It’s easier for sellers to accept that you can’t do something, rather than the idea that you won’t.
4. Use precedent. “My father bought his house this way.” If the offer is unusual, sellers will feel more comfortable knowing it has been done that way before.
5. Ask for things you don’t need. This lets...