Whether you’re a first-time homebuyer or a seasoned veteran, negotiations on a property purchase can be a little daunting and stressful. That’s why you should always work with trusted experts (like us). So, what should you negotiate when buying a home?
Closing Costs
Your closing costs are determined by a variety of factors, but you can expect it to be between 2% to 5% of the purchase price. Ask the seller to cover some or all of the closing costs upfront, or request a closing credit that can be used to make specific updates and fixes to the home.
Furnishings
Love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. Many sellers will agree, because they want to make the home more appealing and get the deal they’re looking for.
Inspection & Closing Timing
Offers that include a quick inspection and closing timeline are often more attractive to sellers, especially those who have been going through the process for a long time. Just make sure you aren’t moving too quickly — even with quick turnarounds, you need to allow yourself ample time to get your financing in place and conduct proper, thorough inspections.
Home Warranty
Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims.
Repairs
Your inspection may uncover small or large repairs needed to bring the home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.
Whenever you’re ready to start negotiations on a new property, make sure you’re working with the right team of experts. We’re dedicated to making sure your closing is quick, efficient and as cost-effective as possible. Give us a call today!