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How to negotiate like a pro

How to negotiate like a pro when it comes to purchasing a new home

When you are on the market for buying a new home, the seller will most likely expect you to negotiate the price. Most people do not walk in and purchase from the get go without making some sort of deal or negotiate the price. In fact, most sellers price their home a bit higher than market value in order to compensate for any negotiations. However, there are others who price their home lower to get more activity and multiple offers so it is important to knowing the market and having a seasoned professional.

Though negotiating can be a bit scary for many, knowing what to expect and how to negotiate like a pro is essential when it comes to purchasing a new home. In this blog written by the Raleigh Cary Realty team, we will provide you with the best tips on how to negotiate like a pro when it comes to purchasing a new home. 

Tips on how to negotiate like a pro when it comes to purchasing a new home

  • Work with an agent or realtor: Some home buyers are under the impression that they do not need a real estate agent due to the fact that real estate listing sites are available with the click of a button. Finding a home could not be easier these days but when it comes to knowing the market , realtors are an essential asset when it comes to negotiating and helping you decide how much to offer. This is because they are experts in your local housing market. They know how interest rates change, which properties are set to grow and value, and how much you can expect to pay in property taxes.
  • Get your finances in order: You need to be able to prove to the seller that you are able to get a mortgage. When you make an offer without proof of funding, you are more likely to get passed on to the next buyer. Because of this, it is crucial that you get your finances in order. It is essential to get preapproved for a mortgage loan before you submit an initial offer. 
  • Know your market: The amount of room that you have to negotiate is inversely proportional to the amount of interest in the home and whether we are in a buyers market or a sellers market. When a multitude of buyers have expressed interest in the home, and there are more offers, you will have less room to negotiate. This is another area where a real estate agent becomes an essential asset. Your agent can evaluate the local market and  talk to the seller’s agent or the seller, allowing you to get a better view at how willing the seller is to negotiate the sales price.

When you are on the market for a new home, it is important to know how to negotiate like a pro. Many sellers price their home above the market value in order to compensate for any negotiations. Though negotiating may seem a bit intimidating, knowing what to expect and how to negotiate like a pro is essential in order to get the best price. Realtors are an essential asset when it comes to negotiating. They know the ins and outs of the market and are local experts when it comes to understanding the value of the property and how much you should offer. Are you on the market for a new home and in need of assistance with this process? The Raleigh Cary Realty Team can assist you with your needs in order to make sure that you get a top tier home for the best price offered.

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Our agents write often to give you the latest insights on owning a home or property in the Triangle area.