Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i need help creating a negotiation plan buying a car using the first two steps, which are 1) define the negotiating goal. 2) list the
i need help creating a negotiation plan buying a car using the first two steps, which are 1) define the negotiating goal. 2) list the major issues in the negotiation related to achieving the goal. below are the insructions and an example of the first two steps in a negotiation on a house. please help and make up with these two steps in. a purchasing of a car negotiation.
Develop a situation in which you are negotiating (you may not use a home buying situation as this scenario is being provided as an assignment example). The writing assignment should include ten aspects of a negotiation situation: 1) Define the negotiating goal. 2) List the major issues in the negotiation related to achieving the goal. 1. Negotiating Goal My goal is to purchase a 3-bedroom home, and my total budget is $175,000. Because this is my first home, I have no furniture. I need to allow $25,000 for furniture and $150,000 for the home with the seller paying closing costs. If the seller will not pay closing costs, my home budget is $145,000 and approximately $5,000 for closing costs. 2. Major Issues Related to Achieving my Goal 1. Is the house within my budget? Do I pay closing costs or does the seller pay closing costs? 2. Are kitchen appliances included? If not, I need to deduct the amount for appliances from my overall home budget. 3. Are any major repairs required to make the house livable? I cannot replace the heating and air unit immediately, but I can make minor repairs while living in the home if they do require attention immediately. 4. How old is the house? When was the plumbing, wiring, and roofing last updated? Roofs should be replaced approximately every 20 years. If the house is 19 years old and has undergone no roofing updates, I may need to consider if I can replace the roof anytime soon. 5. How much will my insurance be? I need to consider aspects of the home that can affect my premium, such as distance to the nearest fire station and fire hydrant. How much will my property taxes be for this home? Conducting Research I will need to conduct research on the particular home that I am seeing to consider additional expenses that would not be applicable to all home purchases. - How is the neighborhood? I need to research the crime rate and proximity to registered sex offenders because keeping my future family safe is important. I have been considering a security system, and if the area has a moderate crime rate, I will need to consider the expense of an alarm system. If the area has a high crime rate, I will need to look at houses elsewhere. - How is the local school system? I need to conduct research about which school district the home is located in. After conducting this research, I need to consider if I would want my child to attend that school or if I would need to consider the cost of potentially sending my child to private school in the future. - Is this home for sell by owner, a foreclosure, or a HUD home (home acquired by the Department of Housing and Urban Development)? If it is HUD home, I need to research bidding strategies. If I am very interested in purchasing the home, I will need to consult with a few individuals before negotiating to purchase this home Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started