Home Buying 101: What You Can Negotiate 🏡💰
When you’re buying a home, remember: you have negotiating power! It’s not just about accepting the listed price and terms—real estate is a two-way street, and you can (and should) negotiate to get the best deal possible.
Key Negotiation Points When Buying a Home
✔️ Sales Price – The list price isn’t always final. Depending on market conditions, you may be able to negotiate a lower price or structure a deal that works in your favor.
✔️ Closing Date – Need extra time to move? Want to close sooner? The closing timeline is often flexible and can be adjusted to fit your schedule.
✔️ Contingency Periods – Inspection, financing, and appraisal contingencies protect you. Negotiating these timelines ensures you have enough time to conduct due diligence.
✔️ Home Repairs – Found issues during the inspection? You can request repairs or ask for a credit to handle them yourself after closing.
✔️ Home Warranty – A home warranty can provide coverage for major appliances and systems. You may be able to negotiate for the seller to pay for this added protection.
✔️ Seller Credit – Sellers may be willing to contribute towards your closing costs, helping you save cash upfront. This is especially valuable for first-time buyers.
Work with Your Realtor to Get the Best Terms
Your realtor should be proactive in communicating with the listing agent to understand what’s important to the seller. For example, they might prefer a delayed closing date but be open to covering some repairs. Knowing these details can help tailor your offer to stand out from the competition.
At the end of the day, real estate negotiations should work for both sides—so don’t be afraid to advocate for what matters to you!