CHAPTER 6 Buying a House: Negotiation The Deal
(a.k.a. The Game of Homes) You’ve toured open houses, sifted through listings, and maybe even walked a few neighborhoods. Finally, after what feels like an eternity (or maybe just a lucky first try), you’ve found the one . The home you’d love to call your own. Congratulations! Now comes the tricky part: negotiating the price. This is where dreams meet reality and where preparation and strategy matter most. Welcome to the art—and occasional science—of closing the deal. Before You Start: Know Your Financial Power First things first: know your budget and financial boundaries before walking into negotiations. This includes understanding your mortgage preapproval and factoring in the often- overlooked (and sometimes conveniently ignored) closing costs. These pesky fees can add thousands to your final price and include everything from lender fees to title insurance and property taxes. If you're unsure about your financial wiggle room, take the time to revisit your budget before diving into price talks. After all, you don’t want to end up “house poor,” where your beautiful new home leaves you too broke to enjoy life—or even furnish the place. 27
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