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How To Negotiate A Contract When Buying A Home

Posted by RCPAP on January 8, 2016
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How To Negotiate A Contract When Buying A Home

Looking for a new home in can be an exciting adventure and when you finally find “the one” you want to do whatever you have to so that you don’t lose it. But at the same time you have to be careful that you go about it the right way according to real estate professional Craig Summers.

Consider using a real estate agent for the process. A buyer’s agent is paid by the seller and will, in essence, be working for you for free, so utilize them. Never contact the agent who has the house listed. They are working for the seller and have guaranteed them that they will get them the most money possible for their house. If they say they will negotiate for you, who do they think they will be loyal to first?

If you are looking at a home and you instantly feel that you have to have this house or else, make sure you do not share this with the seller or their agent. Sometimes one or both may be present at a showing. By all means play it cool. If you get overly excited or show desperation it may be used against you during the negotiation. Sellers may use this to their advantage when considering price, paying closing costs, etc., if they know you will do whatever it takes to get it. Remember: buy logically- not emotionally.

Before you submit a contract make sure what your highest price will be. Make it clear that if the price goes above that amount that you are willing to walk away from it. Getting in over your head will make the home a burden instead of a joy.

When you submit an offer keep in mind what the asking price is. Unfortunately, there are no magic formulas or equations to calculate what you should offer. Of course, a buyer wants to get a good deal. But take the seller’s feelings into consideration, too. Making a ridiculously low offer will probably insult them and significantly damage any credibility that your offer may hold. The seller may be so offended that they refuse to work with you at all. It happens all the time. Even if they do overlook it the damage has been done and they will probably be less inclined to work with you on the details.

Finally, make sure that all items included in the sale are written out. Do not rely on deals made on the side: people forget, both intentionally and unintentionally.

To learn more about buying a home, contact real estate agent Craig Summers with Atlanta Northwest Realty’s Paulding & Polk Team at 404 374 1620.

For a FREE List of 3 Plus Bedroom Dallas Georgia Homes under $150,000 with prices, addresses, and descriptions click the link, fill out the form below or call 877 566 0511 Ext. 4010

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