When it comes to getting the price you want when shopping for a home, you will most likely have to negotiate with your seller. Negotiating can be tricky, but what it really comes down to is knowing when to stop and when to keep going. For example, you know you can probably have more leeway in negotiating if the house in question has been on the market for a long period of time or if other homes have had trouble selling. Conversely, if you are dealing with multiple offers, then your negotiating window may be slimmer. Here are a few tips to help you to negotiate to get the price you want.
Get a preapproval. Going into the situation already preapproved legitimizes you from the get-go in the eyes of the seller.
Assess the value of the home rather than the list price. The list price of a home does not necessarily reflect its actual value. If a home is listed below market value, then you will most likely have less room to negotiate for less than it is listed. If it is listed above market value, then your options for negotiating the price down are probably more open.
Be flexible. Your offer can include contingencies like repairs, but understand that asking for too much can drive the seller away. Do not get your feelings hurt if you don’t get every little contingency you are seeking.
Expect to compromise. In general, home buyers typically have to compromise on at least one of price, size or location.
Understand the seller’s situation. You can better tailor your offer to the seller knowing particulars about his or her situation, such as why he or she is moving, what his or her timeline is for leaving the home, etc.
Research the home and surrounding area. Get a feel for the home and the neighborhood by researching the history of the homes in the area, how many times the potential home has been listed, bought and sold and the price it sold for each time.
Having a knowledgeable real estate agent is also a vital part of the negotiating process! Your agent could be the difference between you getting the home you want for the price you deserve and potential real estate devastation.
For your real estate needs in the Auburn-Opelika area, contact Realtor Ryan Roberts today! Call Ryan at 334-750-9872, or email Ryan at [email protected]! #Negotiating #HomeBuying #Tips #BuyAHome #AuburnRealEstate #OpelikaRealEstate #AuburnRealtor #OpelikaRealtor #AuburnAL #OpelikaAL #HomesAuburn #RyanRoberts
