Are you a professional real estate negotiator?
Here are some tips For Successful Negotiating When Buying A Home.
Most are familiar with the saying ‘everything is negotiable,’ and this saying is especially true when buying a home – to a point.
When shopping for a house, your goal is to get as much house for as little money as possible. To reach that goal you have to know the difference between negotiating and wasting your time. Knowing the actual property values and the market for the local area and neighborhood will be of great assistance when it’s time to make the offer.
If the market is soft, obviously there may be more room to negotiate than there will be during a seller’s market. It’s important that you understand that housing markets can vary greatly from neighborhood to neighborhood before you start negotiating.
For the most part, the housing market has recovered from its most recent sub-prime collapse and home prices are in the rise again. This means sellers are going to be less likely to stray far from the asking price. The days of half priced homes are long gone, but there is still room for some negotiation in most asking prices. This is where a good real estate agent comes in.
Don’t get suckered into thinking you can find, negotiate and close on your dream house by yourself or even with a ‘cheap’ agent. Just because you can shop for a house online doesn’t mean you’re ready to close your own deal – it’s harder than it looks. A good agent will have detailed knowledge of the market in the area you’re looking at and probably has much more negotiating experience than you do. As the buyer, you shouldn’t have to pay for your agent because commissions are usually the responsibility of the seller..
Here are a few tips to make sure you get the best deal you can:
- Get Preapproved – your offer will be taken a lot more seriously with mortgage preapproval. Often times the sell’s agent will only show the house if the potential buy is preapproved.
- Be Smart – There is very little difference in your monthly payment on a loan of $210,000 and $202,000. Price has come down at all – consider it a win. Don’t be pennywise and pound foolish, especially if it’s your dream house.
- Be Ready – When you find what you want – then act! The house may not be there tomorrow, or Monday, or next month. Make sure your offer is consistent with your desire. If it is the best house for you, be sure to give your best offer. Don’t let the perfect home get away from you by playing games with the offer.
These are just a couple of tips to help you out. If you’re looking to buy a home in the San Tan Valley, Gilbert or Mesa, then check with Big Mike at Down Home Real Estate (http://www.downhomeaz.com) and experience the difference a good agent can make.
