Last year, the median price of a home was $277,000. After discovering your dream home, you want to make sure you get it for a fair price, right? With the right negotiation techniques, you can!
Here are four tips to use when negotiating house prices. With these tips, you can become an expert negotiator. Place an offer you can afford on the home of your dreams.
Start negotiating with these four easy tips!
1. Ask for a Home Warranty
Many sellers will pay for the premium of a home warranty up-front. As you negotiate house prices, don’t hesitate to ask for a home warranty. After the seller pays the premium at closing, you’ll only have to pay for the deductible!
A homeowner’s warranty can cover the repair of:
- Major appliances
- HVAC systems
Before you place an offer on your dream home, make sure to request a home inspection, too. Completing a thorough inspection will help you catch major problems before you place your offer. The seller is then responsible for these repairs, which can help you save money.
Make sure to negotiate any issues that are related to your family’s safety. That includes gas pipes, railing that isn’t secure, or other safety-related concerns.
2. Consider the Closing Costs
As you develop a plan for negotiating home prices, make sure to consider the closing costs. Many Byers don’t realize they’ll need additional funds for the transaction. In some cases, you could pay between 2 and 5% of the purchase price.
However, you might convince the seller to pay for some or all of the closing costs if they’re eager to make a deal.
Getting the seller to cover the closing costs will help you put more money toward repairs or renovations.
Are you a homeowner eager to make a quick sale? If you’re looking for a fast way to sell, we buy houses with cash! You can sell your house quickly as-is.
3. Remain Flexible
Remaining flexible regarding closing dates could help as you negotiate house prices, too. You might find a buyer who is eager to sell as soon as possible will adjust the price if they can get out of their lease early.
In fact, the average homebuyer takes 73 days to close on a property after their first visit.
The opposite works, too. If a seller needs extra time to vacate the property, they might give you a deal on the price for your patience.
4. Compare Factors
A little research can go a long way. Take the time to research comparable properties, the neighborhood’s status, the home’s condition, and the overall market. Then, you can use this information when negotiating the home price for your dream home.
You can ask the seller to pay points on the mortgage as a tax-deductible expense, too.
Home Sweet Home: How to Negotiate a Fair Price for Your Dream Home
Ready to find your dream home? With these four tips, you can learn how to negotiate the price before you place an offer. That way, you can afford the home of your dreams without stress!
Once you move in, get decorating. Explore the DIY section of the blog today!