The first thing you must do before negotiating a real estate contract

Q: I want to make an offer on a property I found, should I start by just throwing out a price? (The first thing you must do before negotiating a real estate contract)
Lily, Woodbridge, NJ

A: That’s a great question, Lily. If you can deal directly with the seller of the property (sometimes you can sometimes you can’t) the first thing you want to do is ask lots of questions and try to build rapport with the seller. A successful negotiation is one where both parties are satisfied and happy to move forward—creating a win-win situation requires identifying what’s most important to both you and the other party and then writing down points you can both agree on. This agreement becomes the foundation upon which you can hopefully build into a successful mutually beneficial real estate transaction. Thanks again for your question, Lily—good luck. For more real estate tips and information, visit performanceproperty.com or geraldlucas.com. I’m Gerald Lucas and I’ll see you again soon.