Success Money
HOW MUCH CAN YOU NEGOTIATE ON A HOUSE, REALLY?
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f you have finally found the right home for you and you’re ready to make an offer. You’re probably wondering if the seller would simply take the offer, and everything would be concluded. However, it doesn’t always work precisely like that, and the seller might come up with a counteroffer of their own, which kick-starts the negotiation process. Sometimes it isn’t about having a professional real estate agent; negotiation is stressful and knowing the right price to negotiate is a tricky part of buying a home. You also need to be very aware of the different points that can help sway
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negotiations in your favor. How much can one really negotiate on a house? We’ve broken down the answer to that question for you in this article; read on to find answers.
WHAT DETERMINE THE RIGHT PRICE TO NEGOTIATE?
There is only one major factor that determines the price of a house, and that is the present condition of the housing market. The situation of the housing market is what affects how your offer goes down with the seller; it influences whether the transaction would be successful or if you need to start considering other options. A professional real estate agent can effectively assist you in understanding the market and making you a better negotiator.
THE RIGHT NEGOTIATION PRICE IN A BUYER’S MARKET
If it’s a buyer’s market, there are more houses than buyers available, which gives the buyer an upperhand because there are many options to choose from, and sellers would be eager to sell off their homes to any buyer they can get. You can even get the seller to sell at least 10% below the original price asked for in such markets. You also have the chance to renegotiate paying closing costs and other parts of the house. Sellers are usually eager
THE POWER IS NOW MAGAZINE | OCTOBER 2020
