When buying a home, there are different situations you might run into. Multiple offers, fast paced, bank owned, and stubborn sellers are just to name a few. Look to your real estate agent to help guide you through any situation. Before you get to that point, here are 4 tips to help you negotiate the best deal…
- Do your homework before you start shopping. Know what size home you need and how much you can afford, and then search and negotiate fairly. Every seller is going to think that their house is special and immune to the market and ever buyer is going to think the house is about to be lost if they don’t make a crazy low offer, be smart about what you decide to go with.
- Research recent sales that are comparable to the home you’re buying. This way you can make an offer that is reasonable and makes sense for the type of home and area.
- Find out about the seller’s motivation to sell. Are they looking to move quickly or are they waiting for the perfect price? The better you get to know their motive the easier it is to find an offer that works for both of you, while getting you the best deal.
- Closing costs? In a tighter market, it’s not too much to ask the seller to add the closing costs to the price of the home. Talk to your agent about this topic as there are many options for different situations.
Every situation is different and the way you put together and present your offer will vary as well. In some situations you may be able to ask for a better price or more closing costs, but in other situations that’s just not the case. Talk to your real estate agent about these options.
What would you rather have, a better deal on a home or having your closing costs paid?