Learn the details of negotiations, from repairs to closing costs.

Home buyers now have a bit more negotiating power than they did in the past. When buying a home, price isn’t the only factor to consider. Here are a few things that you can discuss with your agent to create the best real estate deal for your needs:

1. Sales prices. Home price is considered the main factor for both buyers and sellers. But even if you don’t get the price you want, you can still negotiate and benefit from other favorable terms.

2. Home repairs. Whether the issues found in your home are big or small after an inspection, they can be costly to repair. Buyers may request repairs or credit from a seller. Sellers, too, have the right to offer monetary credit or make repairs to save money on the deal.

3. Appliances and fixtures. Appliances and personal property, like furniture or entertainment systems, can sometimes be negotiation points. Both parties can agree on what stays and what goes as an alternative to adjusting the sale price.

There are many negotiable terms in real estate transactions.

4. Closing costs and commissions. Believe it or not, commissions are negotiable in a home sale. Buyers and sellers can discuss credits to help cover closing costs and commissions paid by both sides. While there are specific details and limitations to consider, negotiation is possible.

5. Home warranties. Sellers can offer to purchase a home warranty for buyers, covering future issues with the home's systems. This gives buyers additional peace of mind without changing the sale price.

6. Closing date. The closing date's flexibility can be a valuable negotiating point. While it might not seem like a big deal to some, for others, closing on a specific day is very important. Keep your client’s timeline in mind when structuring a deal, as it might offer room for compromise.

There are many negotiable terms in real estate transactions, which is why the best practice is to work with a trusted, local, and experienced real estate agent who understands the contract and can create a deal that’s best for you. 

Contact us today for questions about what terms are important to you or for help creating the right “exit strategy.” Reach out to me at (804) 527-3948 or Marc@MarcsHome.net. We promise no high-pressure sales tactics, just honest advice so you can make the best decisions for your needs. And remember - It’s Not the Market…It’s the Marketing That Makes the Difference!!