Before negotiating the purchase of a home, you have to look closely at the seller’s motivation and the current market conditions. Whether it’s a seller’s or buyer’s market, these tips should help you successfully negotiate a deal on a home.
1. Begin by knowing what you want in a home. Decide on what kind of property you want and create a detailed list of what amenities need to be part of your new home. This will narrow your search and help you negotiate to get what you want.
2. Get preapproved for a loan so you know your budget and can negotiate within your financial limits. Account for your cash funds so you can factor in projected closing costs, needed renovations and other fees.
3. So you can make a reasonable offer on any properties of choice, first check out the real estate market to see what may fulfill your wants and stay within your budget. Get to know the sales history of comparable properties and the active competing inventory so you can substantiate any reasonable offer.
4. Find out the seller’s motivation for selling and how long the property has been on the market. The price will be easier to negotiate with this information.
5. Think of your negotiating as trying to close on a business deal. Refrain from letting your emotions get in the way of your decision-making so you can get the best result.
Please contact me so I can help prepare you to successfully negotiate on the purchase of your next home.
