Home Price Negotiation Explained

Negotiating the price of a home can be an intimidating process, yet is a highly common (and important) thing to do. Today we’re offering some tips to help you with this process!

You should always respond to the seller quickly if you want to negotiate the price of a home, or even if you don’t as a matter of fact. There are other people who may be interested in making an offer on the home, so in showing your interest early-on, the seller will know you are serious.

The most important factor in the home buying process is to involve your realtor and loan officer. When considering negotiating, the first person you should contact is your realtor. They will moderate the negotiation and make it possible in the first place. Following this, you should always ask your realtor about stats on similar houses in the area to see what they sold for. This information can allow you to make realizations about what you are able to achieve with your negotiation.

Finally, the most important thing to do before committing on a certain price is to do the math. Ask your loan officer what your payment would be monthly and how it would impact your budget. Aside from this, having a team you trust is the most important part of this process. Happy hunting and good luck!