San Antonio Express-News (Sunday)
Four things to avoid when negotiating the price of a home
Once you’ve found the perfect house, it’s time to work with your REALTOR® to make an offer. You may think that the hard part is over, but now come negations on the home’s price. Follow these tips below to help ensure your offer is accepted.
n Don’t lose the house for a small amount of money
Often times when an offer is made the sellers will counter offer with a slightly higher price. If the seller is only asking for a few thousand dollars more than your offer, it might be worth considering so you don’t lose the house. Everyone has a budget to stick to, but a few thousand dollars can work out to only a few dollars in your mortgage payment.
n Don’t make a low offer because of décor
Is the carpet hideous? Do you hate the wallpaper? Don’t let these aesthetic items fool you into making a low ball offer. In a seller’s market homes that need easy changes sell quickly, so look past these things and don’t insult the sellers with an offer that is too low.
n Don’t walk away because of an Inspection
Did the inspection report come up with some issues? All inspections turn up some issues and it is part of the process. Don’t let a lengthy inspection report keep you from purchasing your dream home.
Some issues that are found during inspections can be easily repaired. Work with your REALTOR® to negotiate with the seller to either make the repairs or lower the price to accommodate the repairs.
n Don’t assume price is all that counts
Just because a home is under budget doesn’t always mean it’s the best deal. When purchasing a home be sure to calculate in the price of repairs and upgrades that you will need to make to the home.
Additionally sellers aren’t always accepting the highest bidder. Often sellers are on a timeline and will take into consideration if you are willing to delay moving or speeding it up.
For more information on buying, selling, or leasing your home in the
San Antonio or surrounding areas, visit SABOR.com and use a REALTOR®.