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ON LOCATION<br />
... LOCATION...LOCATION<br />
by Spence Servoss<br />
Coldwell Banker<br />
Residential Real Estate<br />
Call (321) 960-1298<br />
spenceservoss@gmail.com<br />
Negotiating A Home Purchase<br />
In real estate, the old saying is that everything is negotiable.<br />
That’s a good rule of thumb, but not always the<br />
case. A seller may just not be ready to part with a family<br />
heirloom or a wedding gift, be it a dining room chandelier<br />
or a ceiling fan that has some sentimental value to that<br />
seller. But you should always try to negotiate the best price<br />
and terms for you! Here are some negotiating tips that you<br />
may find beneficial when you are purchasing.<br />
First and foremost, get your finances in order. Check<br />
with a local lender to determine your creditworthiness, ask<br />
about the different kinds of loans, and ask with your lender<br />
to qualify you as to the amount of loan you could likely be<br />
approved for. And don’t forget to consult with your spouse<br />
or any other party to the purchase regarding your budget,<br />
the price range you agree to concentrate on. It might be<br />
advisable to be a little flexible so as not to lose the house<br />
of your dreams over a few dollars a month in a mortgage<br />
payment. An honest discussion of the amount of commitment<br />
each party wants to make towards a purchase is very<br />
important, that way everybody is on the same page.<br />
Once you have chosen a house, investigate the recent<br />
sales of similar homes in the neighborhood. A good real<br />
estate agent has those numbers at his fingertips, or even<br />
in his bank in his mind. By checking on the sale prices of<br />
homes in the area, you can create a guideline of what a<br />
buyer can expect to pay in order to reach a successful sale.<br />
It’s a good idea to base your offer on the value of the<br />
home, not by what the seller is asking. Those recent sales<br />
you checked out will help you immensely. A seller can ask<br />
anything for his property, but you are wise to pay at or<br />
below the market price that has been established by those<br />
recent sales.<br />
It’s common sense that a property that has been on<br />
the market longer than usual for the area is probably overpriced.<br />
Perhaps you can negotiate a really good price due<br />
to the fact the house has been sitting and the seller must<br />
be move soon. It’s worth it to make an offer to a seller<br />
with a stagnant property. You never know when he finally<br />
realizes that he needs to lower his price to be successful in<br />
selling.<br />
38 - Brevard Live February 2018
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