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DID YOU KNOW?

	Experienced negotiators are a hard thing to find these days. Although it’s not easy to become a professional negotiator since it requires knowledge and experience, anyone can be a better negotiator in every field of our lives. Some rules must be adapted in order to succeed that. Do not try to be pleasant. It’s true that most people want to be pleasant and popular but this is not appropriate in negotiation process. During the negotiations you will have to say “No” many times and displease your “opponent”. If you can’t accept that then let someone else do that job. Stay focused. Chit chat is the last thing you need. Remain on your primary goals you have set and do not let the conversation go beyond that. Don’t be the one who talks more. The more you talk the more your opponent will know. You have to be prepared before the procedure. Learn everything for the other side, their financial status, older negotiation results, other deals they have done, the arguments you expect they could possibly develop. Where the negotiations take place? This is critical. There is a debate on that. Some people believe that negotiating in your base will make you feel better and more comfortable during the process. Some other think that negotiating in your “opponent’s” base can provide you valuable information for who he could be and what can you except. The third view specifies the need of a neutral place. All could be right or wrong. Go for the higher offer. If you plan to sell your house 100.000$ you will not start the offer from 100.000$.You have to start from more. In that way you will have more space for shifts. You have to set these goals before the beginning of the negotiations. Focus on your strong arguments and on the other side’s week arguments. Doing this, you will have the upper hand and you will gain more in the outcome of the negotiation. Do not let happen the opposite! If not you will loose more than you expected in the first place. Avoid the early concessions. Try to be the last who give up. You should expect your opponent negotiator to make the first move. Don’t accept the first offer. The first offer is not the last, almost never. You will get a better one if you insist. Try the “salami” tactic. Don’t ask for the whole thing but a tiny piece. Since there is not going to be an objection from the other side then you can ask for another tiny piece. This tactic is popular in diplomacy between countries but it can be adapted to individuals too. Don’t be impatient. If the deal is very important, be prepared for long and tiring negotiation process. If you are in hurry to close it you will have to give more in order to do that. Do not accept no always as an answer. It’s been proved that no can be transformed to yes with the appropriate arguments. It’s not a personal matter. The other negotiator is a human too. There is no need to take it personal and get angry if it’s not going as you wanted to be. You can be a tough negotiator without being hostile. Avoid the big lies. You won’t be believable. You can twist around but lying will lead to dead end.

You may pay a slightly higher interest rate than those who put down ten percent or more, but you can still get a great interest rate and easy payments when you apply for a no-money-down home loan. You can expect to pay private mortgage insurance if your pay little or no money down on your new home, but the cost is relatively low and you will be able to drop the private mortgage insurance after you have built a certain amount of equity on your home.

If you do not have the resources to pay a twenty percent down payment, you could opt for a piggyback loan. A piggyback loan is basically a home equity loan that funds part of your down payment. There are several options in obtaining a piggyback loan. Mortgage lenders have a variety of programs and loan products that will help you accomplish your dream of home ownership, even if you have little or no money for a down payment. Your lender can also inform you of various government programs that assist those who qualify with their down payment. Most of these programs consist of basically a low interest loan that you repay along with your mortgage payments. There are some government programs that will not require you to repay any down payment assistance you may receive.

Get quotes: Different lenders may quote you different prices, so you should contact several lenders to make sure you're getting the best price. You can also get a mortgage through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker's access to several lenders can mean a wider selection of loan products from which you can choose. Get Costings: Be sure to get cost information about mortgages from several lenders or brokers. Know how much of a down payment you can afford, and find out all the costs involved. Knowing just the amount of the monthly payment or the interest rate is not enough.

Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week.

Ask about the mortgage's annual percentage rate (APR). The APR takes into account not only the interest rate but also broker fees and certain other credit charges that you may be required to pay, expressed as a yearly rate.A mortgage often involves many fees, such as underwriting fees, broker fees and closing costs. Every lender or broker should be able to give you an estimate of its fees. Many of these fees are negotiable. Some fees are paid when you apply for a mortgage and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. "No cost" loans are sometimes available, but they usually involve higher rates.

Negotiate: Once you know what each lender has to offer, negotiate for the best deal that you can. There's no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere. Once you are satisfied with the terms you have negotiated, you may want to obtain a written quote from the lender or broker. The quote should include the rate that you have agreed upon and the period the quote lasts. When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal.