Truisms:
- Homes will always sell at market value. Market value is determined by what a buyer is willing to pay.
- Market value is not a fixed, rigid price, but instead is a range of value. This is because no two buyers are alike.
- Property is a commodity, unlike a car that loses it's value over time. Property values fluctuate with the market.
- You, the buyer, are the market.
- Don't offend. Unless you are offering on a property which has been held purely for investment, the seller is emotionally invested in his property.
- Do get personal.Write a cover letter summarizing why you believe this is the right home for you. On many occasions, I have seen sellers accept a lower offer because they felt a connection with the buyer.
- Don't defend your offer the wrong way. As in, by saying it is all you can afford or that you are basing it on what you believe values will be during the next lunar cycle. This approach will likely leave the seller with the notion that there is a buyer out there, one who isn't you, who can afford his home and at the price it is worth now.