CHAPTER 7
Buying a House: Negotiation Dos and Don'ts
You’ve finally found a property you would like to call “home” and are willing and able to pay for it. Maybe it was love at first sight, and you’re eager to close the deal as soon as possible. Congratulations! Welcome to the most important and challenging part of the homebuying process: the price negotiations. Start with knowledge of your financial situation and available financing options. You likely know how much money you wish to spend. Considering all the opportunities and possibilities will give you flexibility during the negotiation process.
HOW TO MAKE YOUR FIRST OFFER THE BEST OFFER
Making your first offer is an important step that needs a significant amount of preparation and analysis. Go in knowledgeable, with consideration of all the components of your offer. You’re not so much responding to their listing price as using your own factors in arriving at your offer. The two aren’t necessarily related. An important component is a Comparative Market Analysis (CMA), which your real estate agent can provide, another benefit of working with a buyer’s agent. It uses basic conditions, such as number of bedrooms, bathrooms, size of the yard,
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