When the Purchase Price Won’t Budge
Don’t abandon ship. Purchase price is just one variable in the entire equation. If the purchase price is non-negotiable, consider what other things might be up for discussion.
--Seller financing or adjusting the interest rate on seller financing
--Quarterly rather than monthly payments
--Amortizing over an extended period, perhaps even fifty years
--Exchange a down payment in return for improvements
--Extend the closing date
--Allow improvements before the closing date
--Reduce or eliminate the down payment
--Seller to pay closing or improvement costs
Many items on this list could translate to substantial savings and make the issue of purchase price less daunting. It is critical not to jettison a potential clear sail (sale?) just because one item doesn’t quite float as you had hoped.