Home Buying Tip: Rejection is Part of the Process
When trying to secure a bargain on a piece of property, it is often a savvy strategy to aim for rejection on your first offer.
“Never make an offer you think they will accept,” says Thomas Early, who is president of the National Association of Exclusive Buyer Agents.
Although this might not work in a very competitive buying climate, making a low ball offer, getting rejected, then making a slightly higher offer a few days later can seal the deal in many cases.
Another important principle is not to go too far over your head on a single piece of property. If you can’t get a house for a fair price that is within your spending limit, it is important to know when to bow out of the bidding and consider other options.