Photo by stockimages
When it comes to buying or selling a home, there’s more to
negotiate than just the selling price. Buyers and sellers need to be aware of
their options. An experienced realtor can provide guidance, but the decisions
are up to you.
What you can
negotiate
Here are four areas other than price that allow for
negotiation:
·
Closing
costs
Because this process is expensive for
everyone, the buyer may ask the seller to pay some of the closing costs
depending on what their lender allows. This may increase the selling price so
the seller doesn’t actually pay anything out of pocket.
·
Needed
repairs
Unless the seller specifies that the home
is being sold as-is, this is another are that leaves room for negotiation.
·
Home
warranties
Even a home that looks good after an inspection
can have some issues with the A/C or plumbing later on. Many buyers want a home
warranty as an extra layer of protection after they buy. Some sellers offer
home warranties, but it’s not unusual for a buyer to ask for one.
·
Appliances
and Furniture
While dishwashers and stoves are normally
part of the package, things like refrigerators, washers, and dryers are not. In
fact, the buyer may even want to keep some furniture items. This could increase the sale price, but it
could also be a way for the seller to make concessions without having to lower
their price.
The process of
negotiating
Who has the advantage in the negotiations often depends on
the market. In a seller’s market, the seller doesn’t have to do a lot of
negotiating to get their house sold. They can go with whatever buyer gives them
the best offer. In a buyer’s market, if a seller doesn’t give a little to the
buyer’s demands, the buyer could just move on to another home.
The buyer and seller can both benefit by being represented
by realtors. Their realtors will understand the contracts and
negotiations. Also, your realtor can let
you know how friendly the market is to negotiating from your side. In Brazos
Valley, you need a realtor that can tell you what the market is like by area. A
house in Bryan and a house in College Station may look the same on a website,
but a realtor can give you the full picture based on local markets.
A U.S. News & World Report article that gives negotiating
tips for homebuyers is an enlightening read for both sides. One thing that
stands out is the recommendation to have a real estate agent help you through
the process. The article points out that just because it’s easy to find home
listings online, that doesn’t mean you should go it alone. A realtor is an
asset.
There is always a little room for negotiation on both sides.
A local realtor can help you make an offer or decide if an offer is acceptable
based on the market. Whether you’re buying or selling you can get through this
process with expert help from a local realtor.
