Whether you’re buying or selling a home, negotiation is a key step in getting the best deal. Make sure you’re ready to close on the best price with these tips.
Negotiation factors for buyers
Before you place an offer on a home, you should be preapproved for a loan so you know how much you can actually afford to pay. In a tight real estate market, you may have to offer more for a home than the seller is asking. However, if a house has been on the market for a while or has a listing price that isn’t comparable to the market analysis, you may have some wiggle room to go lower. Working with the seller’s personal needs, such as a specific time frame can also give you some room for negotiation. Knowing which situation you’re walking into will give you a better idea of what to expect from your offer and potential counteroffers. Depending on the home you’re interested in, we can help you put together a strong offer that can help you stand out from other interested buyers.
Negotiation factors for sellers
While buyers typically want to get a low selling price, sellers benefit from higher sales prices that let them monetize their home equity. Before you open your home for showings, have a professional appraiser and inspector give your home a once-over. Having your own reports will give you a strong indication of what your home may be worth. You can also use the inspection report as a pre-sales checklist of items to repair before a buyer has their own inspection. This could result in a better sales price.
Every home, buyer, and seller is unique. As such, each negotiation is also unique. That’s where we come in. As your local real estate experts, we’ll help you negotiate to get the best deal possible. If you or someone you know is ready to start the buying or selling process, let us know, we can help!