Good Real Estate Negotiating Advice
Real estate negotiations are about more than price. In a real estate transaction, everything is negotiable. That being said, the other elements to be negotiated will probably affect price.
What are some of the aspects of a real estate transaction that can be negotiated?
- Price – everyone knows about this one.
- Closing Costs – buyers often ask sellers for assistance is closing cost, but with the downside that price will likely be higher.
- Closing Date – aggressive closing date requests from buyers will often cause sellers additional costs.
- Financial contingencies and by when – sellers are less likely to accept lower offers if a financial contingency is part of the offer.
- Repairs – Often a big sticking point in a negotiation, but buyers must ask to begin the process.
- Including a home warranty – often a good way for sellers to include for buyer peace of mind.
- Furnishings – buyers may ask and sellers may offer. A lot of transactions include furnishings and furniture.
- Appliances – buyer beware, if it’s not in the contract, it could be gone when you get the keys.
- Inspections and inspection periods – buyers have a right to ask for an inspection, even if the home is offered “as-is.” We recommend inspections by buyers.
All of these things may affect the final negotiated price. That’s why it’s important to look at value of the entire final contract.
One final point, if it’s not in the contract, it’s not real. If you want it, or it’s important, make sure it’s in writing. Too many home buying or selling experiences have become ugly over what was said, but not put into the contract. If you remember nothing else from this article, remember to make sure it’s in writing.
If you’re have any questions, email Lynn here or call Lynn at 386-566-7503 or David at 386-566-7503.
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