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Originally Posted by Porsche-O-Phile
Sorry but I don't play that "give me your best and final offer" or "here's a counter-offer" crap. I make one offer - one. If they don't like it, there are a hundred other houses out there - I could care less, buh-bye. I think that's absolutely the correct attitude to have in mind when buying ANY durable good - real estate, cars, boats, airplanes, whatever.
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Then you will be waiting a LONG time (or will end up settling). While Rick is reaping the benefits of home ownership, you will still be out there trying to "not get screwed". All the while, you would have been better off (financially & mentally) by paying a slight premium (if you had to) to get the place you really liked. Chances are that "premium" won't put it over fair market value anyway. If it did, it wouldn't appraise, and you'd be back to square 1 anyhow. It's not rocket surgery. If you think something is a good deal, chances are others will also. As long as that premium is at/under appraised value, who cares? The amount you've "saved" by low-balling will be eclipsed by the relative losses from rent/carrying costs/taxes/etc. over the several months/years it will take
you to find something acceptable.
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If you fall in love with something and the sales guy or seller gets a whiff of it, you're dead. Therefore I don't allow myself to initiate any sort of conversation while I'm still "excited" about something - I walk away and if I'm still interested in a few days or weeks, I might inquire when it's become a rational rather than emotionally-driven decision.
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I agree with the first part. You obviously don't want to show your hand in
any transaction, and keep emotions at bay as much as possible (especially as a buyer). However, if you are excited about a potential purchase, it fits all of your "check boxes" and it's that good/great of a deal, it will probably be gone if you wait "a few days or weeks".
Good things come to those who wait. Better things come to those who don't.
