Welcome to the most important and challenging part of the home-buying process: the price negotiations. Start with knowledge of your financial status estimation and available options of financing. If you’re a first-time home buyer, there will be federal programs and state loans to help you with the down payment and mortgage interest rates. You likely know how much money you wish to spend. Considering all the opportunities and possibilities will give you flexibility during the negotiation process.
This is what we’ll be discussing in Chapter 6 of The Complete Guide To Buying A Home that you can read online at https://davebailey.me/go/homebuyer
Buying a House: Negotiation Dos and Don’ts
HOW TO MAKE YOUR FIRST OFFER THE BEST OFFER
Making your first offer is an important step that needs a significant amount of preparation and analysis. Go in knowledgeable, with consideration of all the components of your price offer, when submitting the proposal to the seller. You are not so much responding to their listing price as using your own factors in arriving at your offer. The two aren’t necessarily related.
NEGOTIATING THE PRICE: WHICH TACTICS TO USE
The goal of your negotiation is to buy a house for money you’re willing to pay, and if you get it for less then you were willing to pay, you have exceeded your goal. Decide upon the highest maximum amount that you can afford, and don’t ever offer more. If you pay more than your maximum amount, you have already lost.
Depending on what kind of market you’re in, strategy and tactics will vary. In a buyer’s market (i.e., there are more houses on the market than buyers looking), you have more possibilities to succeed. You can make a less-than-reasonable offer, demand for some house improvements, a better closing date, and even closing fee payment by the owner.
Watch the video and then read the corresponding chapter of the Complete Guide To Buying A Home. Then ask David your questions, so he can record more videos answer them and provide more clarification as needed.
If you are looking for a home in the area, call me at (727) 249-4022 so we can talk about what you’re looking for. We’ll work together intensively to buy a home.