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What’s The Worst Negotiating Mistake A Home Buyer Can Make?

la canada real estate falling in love with your home

Although I don’t work with many buyers, I sold a charming Pasadena home earlier this year. This prime piece of Pasadena real estate was exactly what the buyer wanted, not too big and small – just the perfect fit. While most Pasadena homes sell quickly in multiple offers, this property did not. During contract negotiations, the buyer and I concluded we paid more than top dollar and were concerned we made a negotiating mistake.

After a round of inspections and meetings with contractors, we determined the buyer’s initial investment would be higher than anticipated. There were plumbing and electrical issues, and the buyer asked for a small credit or price reduction. We quickly reached the point where we were arguing over a few hundred dollars.  The seller was going to risk his sale for a few hundred dollars. I was amazed because had the seller put the property back on the market, I am confident it would have sold for a lower price. But the seller knowing how much the buyer loved the home, would not budge

Buying and selling is emotional. And, of course, you should buy a home you love. Why save $20,000 to buy one you don’t? But once you fall in love, negotiating becomes extremely difficult.

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