Chapter 7: Making an Offer, the Art of Cold Negotiation

Chapter 7: Making an Offer, the Art of Cold Negotiation

A Scene from Real Life

One buyer offered full price $340,000 with no contingencies. Another offered $325,000 with inspection and appraisal contingencies. The seller chose the second! The lesson: the smart offer beats the emotional one.

Before the Offer

1. Comps: similar homes sold in 3-6 months (agent’s MLS, Zillow/Redfin “sold”). 2. Home history: days on market, price cuts. 3. Seller motivation: job move or divorce = flexible.

Anatomy of an Offer

1. Price: based on comps, not asking price. 2. Earnest money: 1-2% deposit. Walk away wrongly = lose it. 3. Contingencies: inspection, appraisal, financing. Never waive the inspection contingency. 4. Pre-approval letter: always attach.

Negotiation

• Hide your excitement — let your agent talk.
• Ask for more than price: repairs, seller credits, appliances.
• In bidding wars: set your max from comps and hold it.

Action Steps

• Gather comps before any offer.
• Set your max price in writing; hold it.
• Never offer without inspection, appraisal, financing contingencies.
• After acceptance: deposit earnest money, book inspection in 48h.

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