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Negotiating a House Price as a Buyer

Two Men sitting across from each other at a table.

Buying or selling a home often comes with some negotiation. In fact, it is expected and normal for both parties to set a price higher (seller) or make an offer lower (buyer) than they are ultimately willing to accept. If you are the buyer, here are a few tips to help you make the most of your negotiations.

  • Get Help from a Negotiating Pro: A Realtor or real estate agent is your best advocate during the negotiation stage of a real estate purchase. This is the point where a good agent does the real heavy lifting. They can suggest a fair offer, point out other points of negotiation beyond the actual purchase price, such as closing costs assistance, and communicate with the seller or their agent.
  • Get Preapproved: Beginning negotiations with a preapproval letter from your lender in hand is a good place to be. This shows buyers that you are ready to move forward, which may make them more likely to agree to your proposed sale terms.
  • Get an Inspection: Including a home inspection contingency can provide a lot of leverage and protection for you as the buyer. If the inspection finds issues that are serious or costly, you can rest assured knowing that you can always back out of the deal without penalty. Ask the seller to fix these things or lower the price. They may be willing to do this rather than lose the sale and start over with a new buyer.
  • Stick to Your Guns: If you just can’t agree on a sale price or terms, this may not be the home for you. Don’t be afraid to walk away from the sale. This can be very difficult if you have been looking for a new home for awhile or this home has features that you have fallen in love with, but it is an important part of negotiating. Make a list of deal-breakers for you and stick to them.
  • Make Your Case: In a competitive seller’s market when there are multiple buyers vying for one property, including a personal letter with your offer may set you apart. Don’t embellish or overdo it, but sharing with the seller the reasons that you like the property and want to make it your home may just make them want to do business with you rather than the next guy or gal.

Some people love negotiating, while others dread it. Whatever your stance, working with a professional who can guide you makes the whole process easier and can ultimately get you into your new home faster and with a better deal.

Carrie Hansen

Carrie loves people and numbers! Carrie has worked in financial services since she graduated from Iowa State with a degree in Finance. She enjoys connecting with new people and developing relationships to foster business and promoting other people. She is an active runner, golfer, enjoys reading, traveling, family, friends, meme sharing, comedy, anything Warren Buffett related and following the markets and investing. Carrie is happiest surrounded by family and dear friends including her boyfriend Mike and his two children most likely laughing or telling stories .

Carrie is also an adult living with Cystic Fibrosis – diagnosed when she was three months old. Cystic fibrosis is a progressive, genetic disease that causes persistent lung infections and limits the ability to breathe over time.

In people with CF, mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene cause the CFTR protein to become dysfunctional. When the protein is not working correctly, it’s unable to help move chloride — a component of salt — to the cell surface. Without the chloride to attract water to the cell surface, the mucus in various organs becomes thick and sticky. In the lungs, the mucus clogs the airways and traps germs, like bacteria, leading to infections, inflammation, respiratory failure, and other complications. For every loan I close with Clear Mortgage, I will be donating $200 to the Cystic Fibrosis Foundation, Iowa Chapter. Reach out and apply now!

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