Monthly Archives: October 2011

Mistake #4: Alienating the Sellers, Thereby Losing the Deal

Buyers often say and do things when dealing with sellers that can cost them the deal or cause the sellers to dig in their heels and cut off negotiations. You can use the following dos and don’ts as you look at homes and talk to sellers. Don’t badmouth a home as you walk through it. Sellers (and their agents) are extremely sensitive to anyone’s telling them their orange and black paint is bizarre, for example. True, you’ll find some decorating that’s over the edge, but it’s best to withhold comments.

Mistake #1: Attempting to Get the Best Deal by Waiting for Home Prices or Interest Rates to Bottom Out Part (2)

That means a payment of $1,648.76 on $275,000 at 6 percent jumps $89.43 at 6.5 percent. To compensate for the increased interest you’ll be paying, you would have to get the sellers to reduce their price another $10,000, which is unlikely. When you factor in the loss from not having the tax breaks of home ownership and the lost opportunity to build equity , that price drop for the house would need to be considerably greater to have made your wait worthwhile.