Join Date: May 2013
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Re: Initial Offer Question
I have always worked through a broker who helped me make a very good offer. I usually offer about 25% less than what I want to pay, I do not want to pay any more than I have to, and I do my best to drive a very hard bargain. I once bought a new Nissan Titan 4x4 four door pickup for $27,000.00 less than what the dealer was asking. It took three nights of negotiating until well after closing, and they finally took my offer, probably out of pure desire not to have me come back and stay until 1:00 AM another night, but no matter what the case I got the truck I wanted at the price I wanted to pay.
One key to negotiations on vehicles is patience and cash. If you are not going to finance the boat, car, semi-truck, house or whatever, or if you are not going to finance it with the seller, you have a much more firm position to bargain from and the seller has no hold on you. It is also common practice to post a surety or escrow with an offer in earnest to the seller while in negotiation. Using a broker who is working on your behalf will help with the legal paperwork, the offer in earnest, and the transfer and escrow of funds.
If you are buying from an individual you can still use the services of a broker, for a fee. If you would like to know more on this you can PM me here, I can check with my broker and have him put you in contact with someone from his company in your area, and they can help you if you are not working with someone already.
Remember the seller is going to try to get the best deal for himself, you should do the same.
It is good to learn from your mistakes, but much better to learn from the mistakes of others...