The first thing you should do to buy the best homestead inexpensively is study the area in which you plan to buy a homestead.
And see how much houses there are selling for.
Before closing the deal it is always important to have a building inspector check over the structural foundation and mechanical systems of the house.
An uncontrollable emotional display of attachment to the house you are looking at ruins all chance of successful negotiations.
When you find a homestead that you really want, walk through the house very quickly.
The impression you should give the person showing you the home is that you are quite bored with that home.
Mention features or qualities that the house lacks and then indicate that the house would not be suitable for your purposes even if the price was lower.
The next step is to send in friends and relatives to look at the property.
They try to be even more critical of the homestead’s negative features (small yard, lacks the proper facilities, not enough parking, etc.).
These relatives and friends make an offer to buy the homestead 20 to 20 percent below the selling price with a low-interest mortgage, and a long settlement date off-setting the selling price of the homestead.
The realtor has to submit to the seller all offers made on the home.
The low offers made by relatives and friends will probably all be rejected by the insulted seller.
When the seller’s confidence in the home he is selling is diminished, the original buyer comes back to the homestead to have one more look.
Sometimes, at this point, the seller will respond favorably to an offer made by this buyer.
The buyer can make a low offer for the homestead and at that point his offer may be accepted.
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Image By DLee