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3 Tips For Buying The Home You Want Without Losing Your Shirt
So you’ve found your dream home, now how do you make it yours with a fair deal at the right price? Negotiating real estate can be tricky. Here are my top 3 tips for buying the home you want without losing your shirt:
Remember that sellers were buyers once too. They are almost always still emotionally invested in the home you are wanting to buy. Be fair with your offer and base it on solid information that your buyer’s agent can help you put together. Selling prices in the neighborhood, the features and condition of the home as compared to others nearby and even how long the home has been listed are factors. Your Realtor is someone in your corner who can put together an offer that won’t offend the buyer, but also won’t have you paying any more than necessary.
Know your priorities. What is really important to you in this deal? If you know that going in, when the negotiations go back and forth, you’ll know what to hold on to and what you can let go. For example, if you are short on cash, having the buyer cover some of the closing costs is much more important to you than the final purchase price. Generally speaking, you can usually get a lower price or help with closing costs, but seldom both. Here again, having a buyer’s agent to represent you can make all the difference. Knowing the market and what it will bear gives you insider knowledge on putting a deal together with terms you can live with.
Stay flexible and be open to new ideas. Sometimes, you can gain a lot more on a deal by helping a seller out of a tight spot. It may involve a delayed closing or even renting the home back to the seller for a brief amount of time, to accommodate their moving schedule. Also, remember that it is clearly to everyone’s advantage if you do buy this home, so don’t be surprised if the seller, his or her agent, or even the lender have creative ideas when roadblocks crop up that might prevent a sale. There is give and take in the process, and the seller (with advice from others) just might come to you with a counter offer you hadn’t considered before. Your Realtor can help you evaluate every term and offer so you can make the best decision.
Let me help you find your home! Call Today!
Lisa Grimes, REALTOR®
Text/Call (803) 530-5966
Dedicated. Dependable. Determined!
My husband Jerry and I’ve called the Columbia area home for two decades now. After leaving my job in software to pursue my passions, art and decorating, I realized that I could help a lot of people ....