Negotiation-Buying a House

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CHAPTER 2
LEARNING EXERCISE: BUYING A HOUSE
SKILL 3.1:
Yes, this is definitely a distributive bargaining situation. Base on my opinion, when it comes to purchasing a house, we would want to get a good property at an inexpensive value and have a good home appreciation value so that we can invest in a house property with no future worries. Buying a home need a thorough look as it will most likely be a lifetime investment. We always want to get the most value of our hard-earned money. Base on the case studies, let’s say if they are not willing to considered or negotiate the price of the house that I wanted to buy, I can always walk away and find another house. Because in this situation we as the buyer wants more goods form the seller, and
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This will also be found in the loan payment table; I may also obtain this from my mortgage lender.
Step 5: Add my cash available for the down payment. This will give me a final figure of the amount I can afford to pay for the house.
After completing the calculation in Step 5, I can now compare it to Step 1 and see what the difference is. This will give me my negotiating range that I can use when making my offer. If the amount in Step 1 is higher than Step 5, I may be able to secure an offer by bidding a higher price than the seller is offering. If the amount in Step 1 is lower than Step 5, I'll need to focus on bringing the final price down to a more affordable range.
Calculating reservation price is an important part of the home buying process and can help me negotiate the best possible deal for my situation and get the home that I want. Consider using the above calculations for each home that I are considering so I have the confidence to overbid or negotiate for a lower price with my budget in mind.
My BATNA which stands for Best Alternative to a Negotiated Agreement, if none of this are working out according to plan I can always walk away and find another house that meet my requirement. It is because now I still have a house to stay and I need this to be perfect for my family.

SKILL 3.3:
The house that meets all of my needs is listed for $329,000. My target price is $310,000. I should make an opening offer of $300,000. Of course it's not always

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