CHAPTER 7 Negotiation: The Do's and Don 's and Don'ts So, you’ve pre-viewed dozens of homes; you went to several open houses; you may have talked to builders; you’ve found the ideal neighborhood, and you’ve searched for the best available offers. Or maybe you were lucky, and it was love at first sight, and you're eager to close the deal as soon as possible. Congratulations! But before the closing comes the most critical and challenging part of the home-buying process: the price negotiations. You know how much money you have and your available financing options. You likely know how much money you wish to spend for the home you fell in love with. If you're a first-time home buyer, a veteran, police, or military employee then special federal programs and state loans could help you with the down payment and mortgage interest rates. Considering all the opportunities and possibilities will give you flexibility during the negotiation process. Avoid Overpaying for your home No one wants to feel like they’ve overpaid for a home. Fortunately, there are strategies to ensure you’re making a sound investment. Before Making an Offer If you followed my advice so far, you should have done the following homework. Got Pre-Approved: A pre-approval letter not only clarifies your budget but also strengthens your offer. Done a Research Valuation: Work with your agent to get a 35
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