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The Art of Negotiation in British Columbia

If you’ve found your dream home, get excited! Buying in British Columbia is one of the best financial decisions you could make. Take a sigh of relief and crack the Champagne because it’s all over! Wrong. The deal isn’t done until you’ve moved in!

As a buyer’s agent, there is an art to negotiating the real estate deal. Because many sellers and buyers are dealing with raw emotion, sometimes it can take a while for the dust storm to settle and a deal to be made. Buyers want to low ball and sellers won’t budge. With proper market evaluation a compromises can be made. Often times facts speak louder then anything else. If you have hard evidence that the home will require certain repairs, these can be used against the seller as a price reduction.

When the deal is done and you have negotiated on a suitable price, there is a second round of negotiations that takes place. This is between you and the bank regarding the property in question. A bank will want a home appraisal to be completed from an unbiased 3rd party company that can provide evidence that the home is worth what you’re paying.

If you have a good Mortgage Broker, they’ll submit a cover letter to the bank outlining all the points to justify the offer made on the subject property. These types of offers to the bank usually rise to the top of the pile. Banks like to have evidence and information about every transaction they are involved in. So give the people what they want!

If the bank doesn’t approve the property, don’t worry! There are more banks to choose from. Mortgage Brokers have hundreds of different packages offered by multiple banks. If the property is a high risk investment, they may require a higher interest payment. Whatever the case may be there are always people in Vancouver, Burnaby, Surrey, Coquitlam, Richmond, Langley, Abbotsford, Mission and Chilliwack that can help get the job done. Surround yourself with the right team and you can get exactly what you want!
Shane And Sheleana work together to educate home buyers and sellers in Delta. BC is a beautiful place! Find a Realtor who knows how to showcase it.

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