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Negotiating Tips for the Home Buyer

When it comes to buying a home, the ability and willingness to negotiate is a must for both the buyer and seller. In general, sellers ask for more than they are actually willing to accept and buyers offer less than they are willing to pay. The trick is to find the perfect balance so that you, as a buyer, feel good about the purchase price without leaving the seller feeling insulted.

Know Your Marketnegotiate-price

Real estate is a business that either favors the buyer or seller, hence the terms buyer’s market and seller’s market. When negotiating a purchase price, it’s important to know which of the two you are in. As the buyer, you will have the best chance at a successful negotiation if you research the price of other comparable homes in the area before making an offer.

Make It Personal

When you make an offer, the seller will see nothing more than a piece of paper with some numbers on it that represent the price you are willing to pay. If you really want the seller to take your offer to heart, let them know why you want to buy the home. You can do this by preparing a handwritten letter expressing your interest and the reasons you fell in love with their house. If you have a family, tell them about everyone who will be living in the home. Let them get to know you and allow them to picture the happiness that you can bring to their house. Believe it or not, some sellers actually look at the process like finding a good home for a lost puppy. They want quality people to buy their home, so do your best to show them that you are sincere.

Nobody Likes Rejection

Not every offer is accepted, so don’t be disheartened if your first offer isn’t a winner. In some cases, the seller will make a counteroffer for your consideration. Have you ever heard the old saying, “never take the first offer?” The same is true in real estate, and almost every seller knows it. Your first offer is likely to be less than you are actually willing to pay, which leaves you some bargaining room.

Why Your Offer May Not Be Accepted

There are a number of reasons why a seller may choose to reject an offer, including a feeling that the offer was just too low, the house is newly listed on the market or another offer may be higher than the one you created. In some cases, sellers may also reject an offer that includes owner financing or other requests that are impossible to meet. One example may be an offer that requires the house be available within a certain amount of time. Most contracts require that the seller move out within 30 – 60 days, but anything less would require negotiation.

Read The Fine Print

Before you sign anything relating to a real estate transaction, make sure that you read over every detail of the agreement. If you have any questions, don’t hesitate to ask me. After all, negotiating is a major part of my job!


Looking to buy or sell a home in the MetroWest area? Real estate agent Robert Brown of RE/MAX Executive Realty services areas such as Hopkinton, Hopedale, Milford, Upton, Mendon, and many more. To learn more about MetroWest real estate agent Robert Brown, please visit the Meet Your Agent page on SellMyMetroWestHome.com

Homes for Sale in Hopkinton, MA | Real Estate Agent in Hopkinton, MA
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Homes for Sale in Mendon, MA | Real Estate Agent in Mendon, MA

Negotiating Your Buying Price

There is perhaps no more exciting and nerve-wracking time in the home buying process than when you decide to make an offer on a home. If it is accepted, you will be on your way to owning a new home—if not, you will be forced to make some difficult decisions.

As your Realtor, I will help you get through the process of making an offer on a home. I can give you advice on how much to offer and what concessions you will make. But there are a few decisions you will have to make yourself, and be prepared to stick to them.

How High Will You Go?

real-estate-negotiationsIf your initial offer on the home of your dreams is rejected, the seller will usually come back with a counter offer. In most cases they will ask for a higher purchase price and may refuse some of the items you requested in your initial offer, such as repairs to be done to the home prior to the sale. This is a normal part of negotiations, but especially for first time buyers it can feel like a very frustrating process.

When the counter offer comes back, you will have to decide if the purchase price is one you can live with. Is it within your budget? Is it a fair market price for the home? Your REALTOR® can give you the answer to this second question, but the first is up to you to decide.

What Is Non-Negotiable?

What parts of your offer are you unwilling to back down on? If the house really needs a new roof and you don’t want the expense and hassle of taking care of it yourself, then don’t back down. It might be worth paying a little more in the purchase price with the agreement that the seller will have the roof replaced than to pay less for the house and have to do it yourself.

Decide in advance which items are completely non-negotiable, and stick to your guns. If the seller won’t budge, be prepared to walk away. As hard as it might be to say goodbye to that home you want, you have to be realistic about what you can afford and what work needs doing on the home.

It is very easy to get caught up in the excitement of negotiating and the desire to own that particular home, but try not to let emotions rule your decisions. After all, once you sign those papers and the deal is final, you won’t be able to change your mind.