Negotiating Tips Prospective Home Buyers Should Know

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Negotiating Tips Prospective Home Buyers Should Know

While in the process of buying a new home, there are many things prospective home buyers should learn. One of the most important skills someone looking to buy should master before the upcoming process is the art of negotiation. People looking at homes should go by the suggestions below to close a sale that is pleasing to both them and the seller.

Make Your Move Fast

Depending on where you’re looking to buy, you may find yourself right in the middle of a competitive market. If you’re lucky enough to find a house that’s the perfect fit, act quickly. Avoid being caught in a bidding war and make your best offer right off the bat. Continue communication in order to move towards the closing of a deal.

Don’t Be Afraid To Ask For The Things You Want

When looking at a home, be sure to ask for the changes you’re looking for. You can let small, easy fixes slide, but ask for the changes that are keeping you from your full commitment. When you ask, ask for everything — really! The more you request, the more changes you’re likely to receive.

Always Communicate Through Your Agent

You have an agent for a reason, after all. Utilize them fully as a resource and always make them your channel for communication when it comes to questions or concerns for the seller. Your real estate agent is better equipped to be in contact with the seller’s agent. They know the technical terms and legality issues of making this type of transaction, so let them handle it in lieu of potential misunderstanding or drama.

Research Your Seller

Learn about why the seller is moving. What are their reasons for leaving their current house and what is the time frame they’re looking for the sale to be closed by? Do they already have a new home or are they looking to buy while still in the selling process? If you have this information you can more easily gauge how you should act in regards to the sale.

Know That You’ll Probably Have To Compromise

Many negotiations are settled with a compromise. As a buyer, you will probably not receive all of the changes you’ve asked for. You may also end up paying more than you hoped to, but still less than what the house was initially listed for. A sale won’t go through if the two parties can’t come to terms with a little give and take.

Cooke Realty Partners

Let us help you negotiate your way to a brand new home. Contact Cooke Realty Partners today!