Price! That's the top thing many buyers and sellers think of when they hear the word "negotiation." In this market, price is definitely an important part of the real estate transaction, but what about the other (at least 6) areas that may require negotiation?
Closing costs: As a buyer, have you factored in those closing costs to cover lender fees and other charges? Buyers may ask sellers to help pay for these costs with a flat dollar amount or a percentage of the fees.
Closing date: Do you need to close on a home quickly? Or maybe you need a little more time to search for your next home. Have you considered different advantages to closing at the beginning and/or end of the month?
Personal property: What will be included with the four walls and roof? Are you prepared to purchase all new appliances after the closing or will you negotiate whether the washer and dryer, kitchen appliances, and even items such as living room furniture or that pool table in the basement is part of the purchase?
Contingencies: Many real estate contracts are contingent on financing or other home sales. The buyer may need to complete their lender requirements by a certain date or complete their current home sale before the contract is in full force. These details must be worked out and agreed to up front.
Home repairs: Most contracts include a stipulation that the buyers can complete a home inspection. In some cases, buyers can request that the sellers fix the items that were found to be in disrepair. Each of those items must be negotiated.
Home warranty: This can be provided as an incentive to buyers to offer peace of mind. It can be particularly appealing for older homes because it typically provides coverage for the home’s HVAC system, appliances, and other major items in the event that they need repair soon after the purchase.
Does this sound like a lot to negotiate? It is. Fortunately, as a professional with 36 years of experience in this industry, I will handle all of these areas for you! Let me work with you to determine your needs, identify your top priorities, and work hard to get you the best.