Basic Negotiation Checklist

1. Gather general information about home values in the area.

2. Ask for any help you need from real estate agents, city officials and others.

3. Find out why the seller is selling.

4. Discover any other motivations, needs, and desires of the seller.

5. Find any deadlines, like a need to move before the school year, or sell before tax time.

6. Make a list of every problem or potential flaw in the home.

7. Prepare. Plan how to use the information you gathered.

8. Set negotiating goals for yourself.

9. Start negotiations on an optimistic note.

10. Satisfy the seller's needs as much as you can.

11. Satisfy your needs (hopefully meeting or surpassing your goals).

12. Clarify the understanding.

13. Make it binding (legal).

14. Use inspection and other contingencies as an opportunity to renegotiate if there are any problems.

For best results, put this negotiation checklist on a small card, carry it with you and review it from time to time.

Cheap Homes continues with Chapter 15 here: A Cheap Mortgage - Saving Money On Money