Never badmouth the property. This is especially true in a residential transaction. Many novice buyers, when first meeting the seller of a home, will have unkind things to say about the house. They will typically point out what they consider to be the flaws in the property. “It sure needs a coat of paint…” or “ that roof looks like it’s well beyond its ‘ sell date ‘!
They think they’re gaining a bargaining advantage in their attempt to get the seller to lower her or his price. Actually the opposite is likely to be true. The Seller is usually emotionally attached to his or her home. It’s probably the largest investment they’ve ever made. Parting with it is wrenching. And now to have their home criticized….well, you might as well tell them they have an ugly child !
There’s a far better way of achieving the desired result, which is to soften up the seller into reducing his or her price. It’s called the inspection report. When buying a house it should almost bemandatory to have it inspected by a professional. These guys know their stuff and will identify many little problemswhich are not immediately obvious to the average home buyer.
Those few hundred dollars that a home inspection costs are the best investment you can make. But now comes the “ sneaky bit.”
I recommend to my buyers that they share the findings in the inspection report with the seller.
Why not? What have they got to lose?
If they end up not buying the house the inspection report is of no value to them. And if learning of all the flaws that an old house inevitably has can sway the sellers into lowering their price, the report will have more than paid for itself!