The intimidating part: the negotiation.
Especially in the current sellers market.
There arent nearly enough houses, making the current market sway very strongly in the sellers favor.
Learn how tobecome a competitive buyerin the current sellers market.
But there are a few general ground rules youll want to keep in mind.
When Does the Negotiation Start?
No Interest Til Almost 2027?
Did you know?
The paperwork is exhausting, but well worth the read.
Schedule the Inspection ASAP and Dont Be Shy
One key step in this process?
Home inspectors check out all the systems of your house, plus all the nooks and crannies.
Dont be shy about bringing these issues up, even if youre buying in asellers market.
Meaning, those problems will follow them as homeowners, no matter who they decide to sell to.
Even if your deal falls through, that documentation should theoretically be passed on to the next buyer.
Its Not Just About Price: What Else Can You Ask For?
Keep in mind that small details may not actually affect the value of the home.
Keep in mind that negotiation isnt just about your findings and perceptions of the property.
A lot depends on the seller.
Get a sense of why your seller is moving and how motivated they are to sell.
Another thing to keep in mind when negotiating: the market youre in, and whom it favors.
Its basically a supply and demand situation, says real estate developer Bill Samuel.
And in the current market thats almost certainly true.
Is This the Home of Your Dreams?
Finally, ask yourself how much you love the home.
Does it check enough boxes?
Sellers markets are tricky times to buy, mainly because they can create panic among buyers.
Unless you have a very urgent reason to get into a new home, dont fall into this trap.
Contributor Larissa Runkle specializes in finance, real estate and lifestyle topics.
She is a regular contributor to The Penny Hoarder.
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