If you are new to the homebuying process, then it is important to know what you can negotiate. It is easy to make a mistake as a rookie homebuyer. If you have family or friends that work in the industry, pick their brains for advice. But if you do not have that option, then you should make sure you at least do these two key things: respond to counteroffers quickly and always go through your real estate agent. The latter is really for your own protection because they are more knowledgeable when it comes to proper language and what sort of changes to the deal can create problems. Now, let’s get to some of the different things you can negotiate to get a better deal.
The asking price
You can always put in an offer for a lower price if you think the current listing is too high or just out of your budget. Consult your real estate agent and determine at what price other houses in the neighborhood or area are selling and use that as a jumping off point to pitch a lower price. If they come back with a lower price, but not low enough for you, consider either taking the offer or counteroffering again with a lower price.
Throwing in a quick close
As mentioned in the article “9 Things You Can Negotiate When Buying A House (other than price),” many sellers have been engrossed in the selling of their house for some time. Adding a quick closing can add enough of an incentive to perhaps get them to come down to the price range you are aiming to get. However, make sure that if you do go with a quick closing option that you have enough time to complete inspections and financing.
After you have had a professional home inspector go through your potential new home, it may turn out that there are significant things wrong with the home. If that is the case, then this may be cause for you to pull out of the deal or consider a counteroffer to rectify these issues. It could also turn out there are a few minor things wrong with the home. You can request the seller to repair these minor issues before closing or ask for the seller to provide you with a financial credit to cover the repair costs. The foremost is probably the safer route in case something more serious is found during the process to fix the minor problem.
Having the seller leave their appliances
Moving appliances is always a bit of a hassle. But say you like the appliances that are in the home, you can make an offer to have the seller leave them behind. This saves you the trouble of having to buy new appliances when you buy in, especially if you are going to be tight on money after you make the purchase. If you do intend to go this route, make sure that you include in writing which appliances are staying and which ones the seller is going to take.