Real Estate Investing For Dummies, 4th Edition

Chapter 13

Preparing and Making an Offer

IN THIS CHAPTER

Honing your negotiating skills

Getting the lowdown on contracts

Perusing and presenting the purchase agreement

You and your real estate team log many hours in locating, analyzing, and valuing property. Then comes the moment when you must decide whether you want to try and buy a particular property or keep looking for a more attractive opportunity. In this chapter, we discuss how to negotiate a deal that meets your needs as well as the seller’s. Finally, we cover the all-important details of real estate investment contracts.

Negotiating 101

If you are a savvy investor, you make money in real estate when you purchase your investment property. If you buy a well-located and physically sound property below market value and replacement cost, the property will provide you with excellent returns for many years. This is why smart negotiating is so important to being successful with your real estate investments.

Superior knowledge combined with superior negotiating leads to superior returns. This section explains how to be a champion negotiator.

Starting with the right approach

Although everyone approaches negotiating from his own ...