Home Buying Negotiations

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Home buyers need to do a lot of research before making an offer on a home. The more knowledge a purchaser has, the better chance that he or she will be able to make an offer that seems reasonable to both buyer and seller, and the better chance that the offer will be accepted by the seller.

-Know the Seller
Why is the seller wanting to move, and how long has the house been up for sale? How many offers have there been on the house, and has the price been reduced? Have there been previous offers on the house, and if so, why did they not succeed?

-Include a Cover Letter with Offer You should include the amount of the earnest money you are offering, the desired closing date, and any pre-qualifications or pre-approvals you have received for the loan, in order to stress your sincerity to the seller.

-Add a Personal Touch
Let the seller know why you believe their house is the perfect one for your family. Often this can make the difference between competing offers.

-Hire the Right Agent
Make sure your agent is well qualified in negotiating contracts. A broker or agent without good negotiating skills can destroy an otherwise sound offer by being rude or demanding.

-Buy Home "As Is" If at all feasible, buy the home without demanding that minor repairs be made. Often, repairs can be made by buyer, or contracted to be made by the buyer,for much less money than the seller would add to the price for making them prior to the sale of the house.

-Don't waste time
If you encounter a seller who will not negotiate the price of the house, the chances are good that he does not really want to sell the house, and is just trying to find out how much he can get for it.

-Don't Make "Low Ball" Offers
Do not waste the seller's time by making an offer to buy the home at a price that is drastically reduced from the range of the neighborhood selling prices."

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Resource Center

Real Estate FAQs

Check out the answer to the most frequently asked questions asked by home buyers in the US

Top Ten Mistakes Home Buyers Make

Purchasing a home is in all probability the biggest investment you will make. Avoid the commong mistakes most home buyers make.

Overview of MLS Listings

Discover how MLS Listings can help you explore homes for sale and find that perfect dream home for you

Real Estate Glossary

Familiarize yourself with the most common terms and definitions used in real estate

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