Winning the bid

Win that bid!

Life is full of competition and bidding for certain objects. Buying a car, going on job interviews, and even going on first dates are all perfect examples of how bidding and competition impact every aspect of our personal and professional lives. That said, however, many of these bidding and competitive situations do not involve hundreds of thousands of dollars.

There is, in fact, one bidding and competitive process that impacts tens of millions of Americans, and can have a dramatic impact on your personal finances.

Real Estate.

The spring and summer (which, with 90 degree temperatures, has certainly arrived), are the busiest season for the real estate market. Fueled by (still) low mortgage rates and a market that is becoming increasingly exciting for potential buyers, successfully negotiating a real estate purchase has become more important than ever before. Mortgage (debt) and the mortgage payments have dramatic impacts on your personal financial life, as well as affecting your credit score. In short, negotiating real estate transactions is a high-stakes, highly leveraged endeavor that can either benefit or haunt you for decades.

The NY Times, reposted on CNBC.com, article gives some great tips of negotiating strategy.

Happy Reading!

http://www.cnbc.com/id/101768689