Buying a new home can entail much more than just simply submitting an offer to the seller and having them respond affirmatively right away. In most cases, both the seller and the potential buyer will need to do at least some amount of negotiating in hopes that the end result comes out agreeable to all.
When you’re on the buyer’s side of the equation, you of course want to save a few dollars, so as to ensure that you aren’t “house poor” for the next 30 years. But when negotiating with the seller of a property – especially on the home of your dreams – you need to find that fine line between getting a good deal and offending the current owner. Otherwise, you could find yourself back at square one.
If the listing is relatively new, or in a popular location, it’s not likely that a seller will even consider taking a lowball offer. So, if this is the case, working with a realtor who can help you in determining a fair offer price can be beneficial. That way, even if the seller doesn’t outright accept the offer, you may still have a chance at meeting in the middle somewhere, rather than having the offer completely rejected.
Another negotiating “technique” that some buyers may engage in is asking for a long list of add on’s. For example, while including large appliances like the refrigerator is fairly common, when it comes to furniture and other amenities, you need to know where to ask for “giveaways” and where to stop yourself.
It is also usually a negotiating no-no to look for flaws in the property after your offer has been accepted. For instance, during a home inspection, there may be items that come up like improving the drainage system or updating the gutters. But, unless the items are truly a detriment to the home, it’s typically best to leave well enough alone.
Need more home-buying negotiating tips? Give us a call if you’re in the market for a new home in Bakersfield or the surrounding area. We’ll work with you to best position your offer for success.