Whether you are buying your first home or your fifth, negotiating with a seller is always a bit tricky. Use some of these tips to get a fair price on the home without getting on the seller’s bad side.

Home Buyer Negotiation Tips

Have a Pre-Approval in Hand

This is the first important step towards showing a home seller that you are serious about an offer. A Pre-Approval shows them that you are looking to move soon, and that you can afford what you are saying you can afford. Showing you are serious about making an offer is the first step in negotiations.

Check the Home Value, Not Listing Price

Your real estate agent should be able to help you decide if the home is priced below, at, or above market value. If it is at market value or less, you aren’t going to have much wiggle room on the price. If it is priced above market value and has been on the market for a while, you definitely have some room for negotiation.

Don’t be Afraid to Ask

If you don’t ask for what you want, there is obviously no way you will get what you want! If you truly believe what you are asking for is fair, then ask and see what the sellers think. You may be surprised how many sellers are willing to compromise if they know the buyer is serious.

Be Willing to Compromise

Don’t feel like you are going to win or lose when it comes to home buying. Maybe you can’t get the seller to reduce the price, but maybe they are willing to do some requested repairs or offer you a credit for repairs. These things end up balancing out, so be open to suggestions.

Ready to make an offer? Contact Home Point Financial for all of your financing solutions.