Four Things To Negotiate When Buying A House

Real estate can be unpredictable. Learn tips and tricks you can use to keep your finances in check throughout the buying or selling process.

Four Things To Negotiate When Buying A House

17 September 2019
 Categories: Real Estate, Blog

Have you found a house that you are ready to call your own? You'll need to make an offer on the house and start the negotiation process. Be aware of four different real estate items you can negotiate on when you start dealing with the seller.

The Home Inspection

Some sellers may ask that you forego having a home inspection done as part of the buying process. This is something that you should hold firm on keeping, since it is never a good idea to get a home without a home inspection. The inspection is your opportunity to have a third party look at the home and tell you anything that is wrong with it. If the seller wants you to skip the inspection as a condition of accepting your offer on the home, consider it a big red flag. The seller may be hiding something that they do not want you to find so that the sale goes through.

The Price

Having a home inspection performed also helps you with negotiating the price of the home. If the inspector finds things wrong with the home that you were not aware of, you can use this information as leverage in order to get a lower price on the home. For example, if the inspector discovers that the air conditioner is broken, you can ask the seller to either fix the air conditioner or lower the price of the home to compensate you for the repairs you will have to make.

The Home Warranty

Many sellers offer a home warranty as a way to encourage people to buy the home. The home warranty is like an insurance policy on the items in the home, which will provide you with protection from paying for items that break down unexpectedly in the first year of being in the home. What you may not be aware of is that the home warranty is something you can negotiate on. You can always ask the seller to give you the cash value of the home warranty rather than taking it, since chances are that you'll never need to use the home warranty if your inspection reported that everything was in good shape.

The Closing Date

While it is common to close on a home within 30 days, it is possible to extend that closing date to one that works better for you. For example, if you do not plan on moving until after your children are finished with school for the year, you may want to request an early summer closing date so that part of your life can be settled before moving.

About Me
Talking About Real Estate Finances

Welcome to my website about real estate finances. My name is Reina. I would like to talk to you all about the financial aspect of buying, selling and renting real estate. I will share tips and tricks you can use to keep your finances in check, even when the market feels unstable or you have to dip into your savings for yet another repair. I will also discuss the pros and cons of hiring a property management company to assist you in the renting process. I hope you will follow along and learn all you can about managing your real estate finances. Thanks for visiting.