How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home

How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home

How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home

By Mark Spain Real Estate

When negotiating an offer on a home, it’s important to act with confidence. Though it can seem intimidating to some, negotiating price is quite easy when you come prepared. That said, it’s helpful to consult industry experts to ensure you can negotiate like a pro once your offer is on the table. 

At Mark Spain Real Estate, we strive to help you reach your real estate goals! That’s why we offer comprehensive negotiating strategies when making an offer on your next home. With decades of valuable experience, our industry experts have a track record of achieving the best deal. Below, we share our top strategies for getting the best deal on a home once you’re in the negotiation stage. 

How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home

How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home Get a Home Inspection

Home inspections are an excellent tool for negotiating a sale price. Though not required, home inspections are essential for buyers to fully understand a property’s condition and necessary repairs or upgrades. They also provide significant leverage for negotiating an offer and giving the buyer some financial relief.

During a home inspection, a professional inspector will walk through the property and evaluate its foundational structure, such as the roof, plumbing, HVAC, etc. The inspector will then give a final report revealing areas of concern. As a buyer, you can go to your seller with this report and ask them to pay for repairs before closing the deal. Alternatively, you can request to lower the purchase price to free some space in your budget to make the repairs yourself after closing. 

Ask for Concessions 

Another great way to negotiate your sale is to ask for seller concessions. Rather than asking your seller to lower the price, you can ask them to cover your closing costs to lessen the blow on your budget. Generally, closing costs account for 3-6% of your loan value. These costs typically include appraisal, inspection, and credit card fees. Having these expenses taken care of takes a huge burden off the buyer’s shoulders and will give them more financial freedom when the sale goes underway. 

How to Negotiate Like a Pro: Strategies for Getting the Best Deal on a Home

Include an Offer Letter

If you want to negotiate your offer, consider tugging at your seller’s heartstrings. Including a personal letter with an offer is a great way to build an emotional connection with your seller. In this letter, you might share your story about why you’re in the market for a house and then share sentimental details about the life you envision in their home. This tactic is beneficial if you’re more limited on price. Even if you can’t necessarily meet the seller’s asking amount, a personal letter might still help your offer be considered. 

Know When to Forgo the Deal 

If your negotiation is going in circles, it might be time to walk away from the sale. Some sellers are very set on a specific price and won’t negotiate lower no matter how hard you try. In this case, the seller might have multiple offers on a home and, therefore, have other options to fall back on. As a buyer, the last thing you want to do is spend outside of your means. So, if the seller isn’t willing to accept your offer even after you’ve tried every negotiating tactic in the book, it’s best to forgo the sale and move on. Rest assured, you will find the right home at the right price someday.

Buy a Home with Mark Spain Real Estate

Want to get the best deal on a home? We’ll help you get the right home at the right price! With years of industry experience, the professionals at Mark Spain Real Estate offer effective negotiating strategies to help you get the best bang for your buck. When you work with us, expect unparalleled customer satisfaction from start to finish! 

Check out our Guaranteed Offer Program! Our guaranteed offer participants receive the most competitive all-cash offers in the industry and close in as little as 21 days. Contact our agents today to learn more about our Guaranteed Offer Program and sell your home hassle-free!

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