Negotiating Tactics When Purchasing A Home

Negotiating has been going on ever since bartering began. In fact, in many cultures, negotiating is the only way to do business. When it comes to purchasing a home, negotiating is a must unless you want to pay the full price. The seller will have already built into the selling price of the home an amount with which he can negotiate. Many real estate agents know this and will likely suggest that you offer a lower amount than for what the home is listed.

Be In The Position Of Power

When buying a house it is important to know where your power is. As the buyer, your power lies in not purchasing the home. The seller has a negotiating position in the refusal to sell the house. Your agent knows this as well and tries to save the deal by making both buyer and seller happy. He will suggest that you offer a lower price but not too much lower. Remember, the agent works on commission. It is often customary for people to negotiate with the agent for his or her commission as well. This is tricky, however and you have to be careful not to remove your agent’s financial ability to adequately assist you.

Home Inspection Should Be Used To Level The Playing Field

If you want to get the best possible deal on the house and insure everything is safe, your time and effort should be invested in a home inspector. Generally, they will find something that should be replaced or repaired. Now this is the trump card. You can either demand that repairs be made or that the price is lowered. Depending on the type of repair, often the home owner will do the repairs himself or contract someone to do it. Many agents will suggest that if the repairs are made shoddy and unprofessional, the deal is off.

The Immovable Seller

There are sellers who are extremely hard-nosed when it comes to wanting a certain price on their real estate. This is a good time to have your agent look for more homes. He or she may even find something better. If you are in love with a particular house and the price is a fair one you can afford, you may take negotiating to another level. Instead of hitting a wall trying to get a lower price, ask for other concessions. Point out the age of the heating and air conditioning system which needs to be replaced soon. Or find out the age of the roof. Most roofs last twenty to thirty-years in a Georgia home. Demand a replacement before you buy. You can ask that the seller pays for all closing costs. There are many ways to pay less for a home even without the price being lowered.

You Have Time To Back Out Of A Sale Until You Sign On The Line

If everything is ready for you to sign and something alerts you that this house may be a poor buy after all, don’t forget that you have the right to walk away. You can change your mind up to the last minute. This is an investment for a lifetime – think twice if you feel pressured!

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