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Many Americans are not open to haggling as a pastime.
I think it very much depends on where you live. In New York, we have so many different ethnic groups with different cultures and customs. Some buyers and sellers come from cultures where bargaining is customary and expected, provided the parties do it with mutual respect. We recently bid on a home owned by Korean-Americans and I researched their culture to make sure I had a better understanding of how they would respond and why.
I think if you go back and forth with a seller in decent increments (say, $5K or above, depending on the price of the house) you can reach an agreement in several steps. If you're trying to bargain in $1K increments, that would be considered nonsense where I live.
I think it very much depends on where you live. In New York, we have so many different ethnic groups with different cultures and customs. Some buyers and sellers come from cultures where bargaining is customary and expected, provided the parties do it with mutual respect. We recently bid on a home owned by Korean-Americans and I researched their culture to make sure I had a better understanding of how they would respond and why.
I think if you go back and forth with a seller in decent increments (say, $5K or above, depending on the price of the house) you can reach an agreement in several steps. If you're trying to bargain in $1K increments, that would be considered nonsense where I live.
Agreed.
Although, I don't mind the $1000 increments either. It is just smaller steps to a final destination.
Another difference, dependent on local custom:
We write an offer and handle further negotiations verbally and/or by email.
When we think we have a meeting of the minds, we either rewrite the offer or do markup, if it is very simple, and when signed, that becomes a contract.
I know in some areas it is the norm to document/sign counters back and forth, but we don't find that necessary here.
If we had to do that, those baby steps of $1000 would be more aggravating.
Although, I don't mind the $1000 increments either. It is just smaller steps to a final destination.
Another difference, dependent on local custom:
We write an offer and handle further negotiations verbally and/or by email.
When we think we have a meeting of the minds, we either rewrite the offer or do markup, if it is very simple, and when signed, that becomes a contract.
I know in some areas it is the norm to document/sign counters back and forth, but we don't find that necessary here.
If we had to do that, those baby steps of $1000 would be more aggravating.
I totally agree with this approach and this how its normally done where im from.
Yeah thanks for your Comments. My original offer was only a starting point. It doesnt mean that i cant offer full price without seller assist. I prefer to close the deal and get the sale. Maybe they want to wait on the market till they get thier number and that their choice. I still think it better to counter with your number then make a deal but that just my opinion.
Its just hard to tell what will happen sometimes. Every seller is different. I too would of thought they would of countered at full price if they thought you truly were interested. Some people seem to believe if you don't offer 100% you are lowballing them, I guess.
I offer full price for a house in PA with 4 percent seller assist. The seller rejected the offer and said the assist was too much. I was willing to negotiate the seller assist. However the the seller decided they didnt even want to negotiate.
Does anyone else besides me find this odd. Why would you not negotiate the seller assist??? Seems like such a small part for a major deal.
If someone else came along with no request for seller assist, would you counter the offer with a 4% seller assist? If you thought you could do better than the offer with 4% seller assist, would you counter?
Heck no. This really isn't hard to figure out.
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