How to Negotiate the Best Price When Buying A Home
Now is a perfect time to buy a Southern California home because we have more inventory to choose from than ever before and mortgage interest rates are still historically low.
Even though the conditions are good for buying a home, you may be wondering how you can negotiate the best possible price so you don’t end up paying more for a home than what it’s worth. That’s why In this article, we will provide you with several tips you can use for negotiating the best offer on a home.
Tip #1 – Hire A Great Agent with Proven Negotiation Experience
Following this tip is essential because any agent can show you a home but when it comes time to actually paying for it, you must have an agent representing you who knows what to look for in a home and will negotiate the best price so you don’t end up overpaying.
Tip #2 – Understand What the Fair Market Value of a Home Actually Is
Although a seller may be listing their home for a certain price both you and your agent must know what the fair market value of a home actually is.
Knowing the fair market value of a house is the key to success in the home buying process because it will keep you from paying more for a home than what it’s worth.
Tip #3 – Discuss Your Buying Strategy with Your Agent
You must talk with your agent and let them know what the final price is that you’re willing to pay for the home (based on the fair market value) and where you are willing to start negotiating. This will ensure that your agent won’t bid more for a home than what you’re willing to pay for it and also guarantee that you won’t underbid as well.
Tip #4 – What Is the Sellers Motivation for Selling the Home?
Last of all, but most important, your agent must find out what the seller’s motivation is for selling the home.
This piece of information is critical because some sellers may be more motivated than others and having this information available could help your agent create the best offer that they will receive.
Contact the Fred Sed Group
To learn more about how to negotiate the best price when buying a home, or to view homes for sale in Southern California, contact the Fred Sed Group today by calling us at (800) 921-9231 or connect with us online.