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If you are working in a buyer’s market, now is the time to ask for any concessions<br />
from the seller, such as including appliances in the deal, but if it is a<br />
seller’s market and you come across too cheap, the seller will likely walk away<br />
without investing too much time in, or even responding to, your offer.<br />
In a seller’s market, do whatever<br />
due diligence you can before signing<br />
a contract, because the seller in their home and have fond<br />
Most homeowners take pride<br />
will be negotiating from a position memories of it. They want to sell<br />
of strength, and you will have very their house to somebody who will<br />
little leverage to request further accommodations<br />
once the contract is the home within reason and avoid<br />
appreciate it. Try to compliment<br />
signed. For example, you may want discussing extensive renovations<br />
to have a contractor take a look at in front of the seller. You are<br />
the house and estimate on repairs likely to make a more favorable<br />
or renovations, which many will do impression if the seller feels that<br />
for free.<br />
you appreciate his home. Don’t<br />
overdo it, though, or the seller<br />
The seller will likely come back with<br />
might think you will buy the house<br />
a counter-offer, but keep negotiating<br />
as long as he is still at the table,<br />
no matter the cost and negotiate<br />
on that assumption.<br />
and don’t be discouraged. You may<br />
want to offer non-monetary perks<br />
as part of your offer; a quick closing or a contract with few contingencies may<br />
be worth more to the seller than getting his full price.<br />
Keep in mind that most agents are paid on a commission basis, so make sure<br />
you feel the price they are helping you agree upon is fair. You will want to offer<br />
less than the price you are prepared to pay (10% less than the asking price is<br />
a general suggestion), but you should also be prepared to split some of the<br />
difference between your offering price and the seller’s asking price.<br />
Creating a Contract<br />
Once you agree on a price, both sides will sign a contract for the sale of the<br />
home. The contract will list the price, the dates for the deposit and other<br />
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2017 Lakewood Home Buyer’s Guide | 61
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