The Complete Idiot's Guide to Selling Your Own Home by forsalebyowner.com

Author:forsalebyowner.com
Language: eng
Format: epub
Publisher: DK Publishing
Published: 2010-03-01T00:00:00+00:00

Reducing Objections

Another effective negotiation technique is reducing objections—or, put another way, boiling them down to illustrate their frequent lack of significance. For instance, say a buyer feels your asking price is $5,000 more than what they think they can afford.

That may seem like a chunk of money, but that’s only one way to look at it. If you assume that the buyer is taking out a 30-year mortgage at 6 percent interest, that boils down to a relatively modest $29.98 a month. And much of that is tax deductible. This breakdown of expenses into smaller, more specific figures, is known as amortization (see the following figure). It never hurts to point that out.

FSBO Facts

What we did with the $5000 example is known as amortization—breaking down something into scheduled payments, including the cost of interest. Mortgages, for instance, are always amortized.

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