After years of trying unsuccessfully to list my home on my own, I finally realized that I needed some serious help. I began looking for a great real estate agent who could help me out, and after interviewing a few professionals I found someone that was really in tune with what I needed. They sat down with me to talk about my needs and worked hard to help me to identify different homes that could work for my family. I wanted to make a blog all about selecting the perfect agent to work with during your house hunt. Check out this blog for great tips on choosing agents.
When you've looked at real estate for sale and put down an offer on property, know that there is still some room for the final price of the home to change. This can happen through reducing the price of the home or offering you credit toward your closing costs. Here are some tips for negotiating with your seller when buying a home to hopefully reduce how much you pay.
Use Your Home Inspection
Part of the home buying process gives you the opportunity to get a home inspection. This is definitely something you should not skip doing, even though it will cost you money. A home inspection is when you hire a professional to look over the house and let you know about all of the things that are wrong. You will get a detailed report back that lists things that are not up to code, damaged, or could need replacement soon.
You can use this home inspection to help prove to the seller that you need some sort of compensation for what was discovered to be damaged. For example, if the home inspector finds that the foundation is damaged, you can request that the seller fix the issue or give you money to resolve it yourself once you have purchased the home.
The home inspection often finds things that you may not think to look at during your initial walk through, and it is normal to negotiate with the seller after you see what the inspector finds.
Request A Home Warranty
Another way that you can negotiate for problems is by requesting that the seller pay for a home warranty. These warranties typically last a year and will allow you to have appliances replaced that break soon after you move into the home. It can give you some additional protection and save you money if you suddenly find that your refrigerator dies within those first few months.
Use Your Appraisal
If the appraisal comes back and you discover that the home is worth much less than what you offered, you can use this opportunity to negotiate a new price. You have the opportunity to walk away from the home, and the seller knows that the next buyer will discover the same problem when they get their own appraisal. It never hurts to go into another round of negotiation to try to lower the price.
Work with your agent to get help negotiating the price of a home.