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Art of Negotiation

Everything is negotiable when buying a house. For some reason, most buyers either don't believe it or don't like it. Here's a partial list of what's negotiable when you buy a home:

  • Price

  • Financing

  • Closing costs (except where specified by financing or law)

  • Occupancy (When can you get the key and move in?)

  • Painting (Will the seller repaint a portion of or the entire house?)

  • Repairs (Will the seller repair the roof, plumbing, windows, etc., and what kind and quality of repairs will be made?)

  • Yard (Will the seller remove unwanted trees, bushes - put in desired landscaping?)

  • Fixtures (Which lights, fans, appliances, etc. stay and which go?)

  • Wall coverings (Do the drapes stay or go?)

  • Furniture (Will the seller include certain pieces?)

  • Prepaid taxes and insurance (Will the seller credit you with these?)

Negotiation gives the buyer incredible power in making a favorable transaction. It can also place him or her in a position of immense weakness. Negotiation can determine whether you get the home of your dreams…or whether those dreams end up being a nightmare.

Ultimately, how you fare when buying a home is going to be a direct result of your knowledge. The more you know, the better position you'll be in to negotiate.

 

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This copyrighted information is provided courtesy of the Stewart Title Guaranty Company.