Four Tips For Negotiating The Best Deal On a New Home
Buying a new home can be a very exciting thing, but it’s not always easy to get a good deal on your property of choice. Fortunately, most homebuyers get a chance to put in an offer on a house until the seller can agree on the price. In addition to having natural persuasion skills and a bit of luck, here are some techniques that you could use to haggle your way to the affordable pad of your dreams.
Know the Current Housing Market
In order to get a good deal on some real estate, you have to have a good idea of what it’s worth to make a reasonable offer. Do plenty of research so that you become familiar with the current housing market and local trends. Check out other similar homes in the area to see what they’re listed for. All of the above will give you much greater insight into the true value of your potential home. Avoid making an offer that’s too low since that can be taken as an insult by the seller. He or she could decide to cancel negotiations with you.
Don’t Let the Seller Know What You’re Thinking
Buying a home is a mental game. How much can I afford to dish out? Is the seller desperate to sell the property? Is my offer realistic? Are my expectations unrealistic? Is the seller trying to rip me off? These are just some questions that you should ask yourself before making a final decision. Remember that whatever goes on in your head while you’re trying to figure things out should stay in there. Never let sellers know that you really want to buy their property because they can take advantage of your desires to benefit their own personal goals.
Bring Up Repair Costs
If you’re serious about a house, examine it thoroughly inside and out to get an idea of what needs to be fixed up. You could also hire a professional to check out the property and estimate repair costs for you. If you decide that significant repairs need to be made, bring it up in your negotiations with the seller. Ask that repairs be done before you commit to the purchase. If you’re pretty handy, ask for a discount, and fix up the place yourself.
Request Closing Costs to be Paid For
Closing costs are fees that have to be paid in full. You usually won’t have the option to finance closing costs, which run around $3,500 on average. Instead of putting in a lowball offer, submit a number that’s not too far from the asking price, and ask the seller to cover closing costs instead. Many sellers overlook the expense of these fees and will do as you say without much hesitation.
Getting a good deal on a house isn’t just about luck. If you know what you’re doing, you can really lower the asking price significantly. If you end up screwing up negotiations, you still have the option of buying a home lot and building a house from scratch. There are many Delaware home lots for sale, so consider this option because it can save you a good chunk of change
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Category: Housing
