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Tips & Traps for Negotiating Real Estate, Third Edition : Tips and Traps - Robert Irwin

Tips & Traps for Negotiating Real Estate, Third Edition

Tips and Traps


Published: 3rd November 2010
Ships: 7 to 10 business days
7 to 10 business days
RRP $27.95

Fully revised and expanded, the classic million-selling guide to negotiating "every" aspect of any real estate transaction

Real estate guru Bob Irwin breaks down all the common negotiating "tips and traps" when it comes to buying and selling in real estate, Beginning with the golden rule of real estate-""everything is negotiable""--the all-new third edition of this easy-to-read guide helps homeowners and investors like you maximize profits by avoiding the common pitfalls standing in the way of getting the deal you want.

Fully updated for real estate investors in any economic climate, this comprehensive guide delivers useful tools for every step along the way--checklists, forms, calculators, etc.-along with rock-solid advice for sellers and buyers on: Getting a better price in a down market Negotiating a quick sale Dealing with reluctant lenders Keeping the upper hand when buying a foreclosure Talking a seller into financing your purchase And more

Be a Winning Negotiatorp. 1
You Can Negotiate Anythingp. 2
When There's Apparently No Negotiating Roomp. 2
Everything Else Is Negotiable, Too!p. 3
Is It Hard to Learn to Be a Good Negotiator?p. 4
Is It Really Worth the Effort to Negotiate in Real Estate?p. 5
Knowledge Gains You the Upper Handp. 7
Who Has the Knowledge?p. 8
Knowledge Is Powerp. 9
Knowledge Affects Negotiations in Every Aspect of a Real Estate Transactionp. 11
How You Present a Property Can Mean the Difference Between a Sale and No Salep. 14
Knowing Market Conditionsp. 15
Negotiating Toolsp. 16
And Morep. 16
Remember, It's Strictly Businessp. 17
Never Take It Personallyp. 17
Beware of Choosing "Nice" People to Represent Youp. 20
Only Deal with People Who Have the Power to Decidep. 22
Deal Directlyp. 22
Always Strive for the High Moral Groundp. 24
The Rules of Timep. 27
Invest in Timep. 27
Set a Deadlinep. 31
Act in a Timely Fashionp. 33
The Psychology of Negotiatingp. 35
Push Back at the Put-Downp. 36
Don't Waver over Your Expertise-or Lack Thereofp. 36
Bring It Out into the Openp. 38
Be Irrational Occasionallyp. 38
Strive to Be a Beginnerp. 40
Always Ask Whyp. 43
Challenge Their Wordsp. 47
Try Using a Listp. 49
Listen Carefullyp. 50
Listen to What's Behind the Wordsp. 51
Question Authorityp. 53
Challenge the Authority's Credentialsp. 54
Five Basic Tactics Negotiators Usep. 57
Always Give Yourself Another Optionp. 57
Only Work on Issues That Can Be Resolvedp. 59
Never Respond to an Offer That Can't Be Closedp. 62
Don't Stick to the "Pie" Analogy or "Bottom Line" Reasoningp. 64
Remember that Some Deals Can't Be Made, No Matter Whatp. 67
Walking Away a Winner Is No Baloneyp. 69
Negotiate the Actual Offer (Including Counteroffers)p. 71
Arriving at the Terms of the Dealp. 72
Price and Termsp. 77
The Depositp. 78
Financing Contingenciesp. 82
Dealing with Timep. 84
Other Contingenciesp. 86
Buyer's Final Approval and Walk-Throughp. 90
Get a Better Deal When Buying a Foreclosurep. 93
What Is a Bank-Owned Property?p. 93
Why Dealing with a Bank Is Betterp. 94
Why Dealing with a Bank Is Harderp. 95
Making the Offerp. 96
Dealing with the Bank's Intransigencep. 97
Dealing with a Low Appraisalp. 98
Concluding the Purchasep. 99
Fend Off a Lender That Wants to Foreclosep. 101
How Did This Happen to Me?p. 102
The Turn Downp. 102
Slow Down the Processp. 103
Case History: Playing the Lenderp. 104
Ask for a Deed in Lieu of Foreclosurep. 106
Another Case History: A Deed in Lieup. 108
Try a Short Salep. 111
Walk Awayp. 111
Review Your Optionsp. 113
Sell Your Home When You Owe More than It's Worth (Short Sale)p. 115
Are There Any Drawbacks to a Short Sale?p. 116
Are There Benefits to a Short Sale If You Can Still Make the Payments?p. 117
Why Would a Lender do a Short Sale?p. 117
How to Do a Short Salep. 118
What to Do if You Have a Second Mortgagep. 120
How to get Secondary Mortgages to Sign a Releasep. 123
Watch Out for Deficiency Demandsp. 124
Who Pays the Commission and Other Sale Expensesp. 126
How to Put Pressure on a Lender to Actp. 126
How Closely to Work with Your Agentp. 128
Watch Out for Scammersp. 128
Forms and Morep. 130
Successfully Buy a Short Salep. 131
The Short Sale Hurdlesp. 131
Negotiate with the Sellerp. 132
Get the Right Agentp. 132
Talk to the Seller's Agentp. 133
Coax the Buyer to Accept Your Offerp. 135
Negotiate with the Lenderp. 136
Keep in Touchp. 140
Forms and Morep. 140
Win a Bidding Warp. 141
For Buyers Onlyp. 141
When the Bidding War Startsp. 144
Negotiating in a Difficult Marketp. 144
Look for Fixer-Uppersp. 146
For Sellers Onlyp. 147
Understand "Forward Pricing"p. 147
Purposely Underpricingp. 148
Negotiate. Negotiate. Negotiate.p. 148
Negotiate a Lower Commission Rate When You Sellp. 149
From the Agent's Viewpointp. 150
From the Seller's Perspectivep. 150
How Does the Commission Impact the Agent's Role in Selling?p. 151
Offering a Good Commission Rate to the Selling Agent (the One Who Produces the Buyer)p. 153
Adding a Bonusp. 154
What About Negotiating a Lower Commission for Your Listing Agent?p. 154
Should You Tie the Fee to the Services Performed?p. 155
Should You Deal with Discount Brokers?p. 156
What About Negotiating the Commission as a Percentage of Equity?p. 156
Can You Get the Agent to Accept Paper Instead of Cash?p. 157
Should I Try Negotiating Directly with the Other Party?p. 159
What If the Agent Throws Up a Roadblock?p. 159
Would You Be Better Off Having a Separate Buyer's/Seller's Agent?p. 160
Can an Agent Work Against You?p. 161
Strictly from the Buyer's Viewpointp. 162
The Agent Answerp. 163
Argue for a Better Appraisalp. 165
When the Lender's Appraiser Says "No!"p. 165
How Do You Challenge a Lender's Appraisal?p. 167
Appraisal Costsp. 169
Can You Challenge the County's Appraisal?p. 170
When You Decide to Appealp. 171
How Do You Appeal an Improvement?p. 172
Negotiate Personal Propertyp. 175
Very Personal Propertyp. 175
Negotiating to Get Personal Property Included in the Dealp. 178
Keeping Personal Property Out of the Dealp. 179
Even Personal Property Is Negotiablep. 181
Pressure a Builder over Price and Upgradesp. 183
Dealing with the Builder's "Front"p. 184
Submitting Your Own Offerp. 184
What You Can Negotiatep. 185
Understanding the Builder's Costsp. 186
Negotiating for Optionsp. 187
Knowing What You Wantp. 188
The "Upgrade" Trapp. 189
Getting an Option Discountp. 192
Mortgage Buy-Downsp. 193
Gain an Advantage from the Inspection Reportp. 195
What Is the Professional Inspection Report?p. 196
How to Leverage the Inspection Report into a Better Dealp. 198
Renegotiatingp. 198
Preinspected Homesp. 199
Why Would Sellers Want a Home Inspection?p. 200
Dealing with Lendersp. 201
Does a Defect Need to Be Corrected?p. 201
Buyers Who "Set Up" Sellersp. 202
The "Aboveboard" Approachp. 203
Deal Points When Buying Investment Propertyp. 205
Negotiating the Price of Income Propertyp. 205
How to "Negotiate" Rentsp. 207
How to Negotiate Depositsp. 208
How to Negotiate Financingp. 209
Negotiate Your Way Out of Closing Problemsp. 211
What Can Go Wrong?p. 212
What Can You Do to Avoid Closing Problems?p. 213
What Do You Do When Things Go Wrong?p. 214
Who Controls the Escrow?p. 216
Who Pays the Escrow Fees?p. 216
Glossary: The Language of Real Estatep. 219
Indexp. 239
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780071750400
ISBN-10: 0071750401
Series: Tips and Traps
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 256
Published: 3rd November 2010
Publisher: McGraw-Hill Education - Europe
Country of Publication: US
Dimensions (cm): 22.9 x 15.2  x 1.5
Weight (kg): 0.33
Edition Number: 3
Edition Type: Revised