Useful Steps in House Buying Negotiations

Now that you’ve completed the first few steps – the prequalification, questions, and initial bid – let’s do some work!

Contingencies can become a headache when you’re trying to make a deal run smoothly. Sellers definitely favor situations when the details are not left to chance. However, there are a few things that are important, such as mortgage approval, home inspection, and environmental checks.

Remember that buying a house is a business transaction and that you should try to remain unemotional throughout the process. Be aware of the negotiations that occur between buyers and sellers with price and closing costs.  Also, if the seller isn’t budging, don’t be afraid to bluff and say you’ll walk away. The seller could get nervous and accept your offer.  Basically, keep your poker face on until all the paperwork is complete.

Finally, don’t get too competitive! In a buyer’s market, multiple offers are part of the environment. Don’t let competition push you above your highest predetermined bid or make you leave out a crucial contingent. These steps, combined with the skills of your Realtor®, will help you successfully negotiate the purchase of a home.  To learn more about the home buying process, click here.

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