Negotiate with the Seller
Buying a home is one of the largest financial purchases you will ever make. Proper negotiating with the seller will ensure you pay a reasonable price for the home you are considering purchasing. The last thing you want is to overpay for the home when you could have worked out a better deal.
Below is a list of questions to consider when negotiating the purchase price with the seller:
- Why is the home owner selling?
- How long has the home been on the market?
- How much did the seller originally pay for the home?
- How fast does the seller want to move out?
- Are there any defects in the home?
As a potential buyer, you want the upper-hand when negotiating the selling price. If you obtain answers to the above questions, it will give you bargaining power. It is also important to reveal as little information about yourself as possible. As well, you do not want to the seller to know how much you want the home. If you act too eager or enthusiastic, the seller will have the stronger bargaining position.