“Today’s purchasers are fanatical about getting a good deal. In response, many sellers have finally cut their prices to levels appropriate for the market.
But in their haste to get the steepest possible discount, buyers sometimes push these sellers over the edge by making additional demands after the initial meeting of the minds.
“If a [buyer] says, ‘Now I want you to pay a year of maintenance or I won’t take this apartment,’ that can really turn someone off,” said Maggie Kent, a sales associate at the brokerage Core.
Sometimes, if a seller has accepted an offer lower than the asking price, “when the contract comes before him, he says, ‘Wait a minute, don’t I really deserve more than this? I’m not signing,’” said Noel Berk, cofounder of boutique brokerage Mercedes/Berk.
In one instance, a buyer noticed a scratch on the floor during a walkthrough of the apartment and demanded $10,000 from the seller to fix it, del Rosario said.
Buyers today “want to [save] as much money as they can,” he said. But while $10,000 may seem like a relatively small amount of money, a request like that in the current climate “could kill the deal.”
To defuse the situation, he recommended getting a contractor’s estimate of how much it would realistically cost to fix the scratch, and asking the seller to pay that amount. “You have to calm them down with logic,” del Rosario said.”
Read the Full Article at [The Real Deal]