Negotiating Tips For Home Buyers
How To Set Your Offer Apart & Make It A Winning Offer
Know where you stand on negotiating a home purchase.
First, look to your agent for guidance on negotiating strategies.
You are in a strong, bargaining position - meaning, you look particularly welcome to a seller if:
- You are an all cash buyer
- You are already pre-approved for a mortgage
- There are no home to sell contingencies. You do not have a present home that has to be sold before you can afford to buy.
In those circumstances, you may be able to negotiate some discount from the listed price. On the other hand, in a "hot" sellers market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers.
It is very helpful to find out why the house is being sold and whether the seller is under pressure. Keep these considerations in mind:
- Every month a vacant house remains unsold represents considerable extra expense for the seller
- Some owners might be relocating immediately because of a job change, or working with a relocation company.
- Estate sales often yield a bargain in return for a prompt deal.
Check out more tips on home purchase.