Dean Graziosi

Everyone wants to get the best deal possible on their house, but in a buyers market it can be difficult to know when to stand your ground and when to give in. Especially if your house has been on the market for a long time, it can be tempting to take any offer that is put on the table. However, you don’t want to give too much, or you will come out of the deal smelling like a rotten egg instead of roses. Take these tips into consideration when examining and negotiating real estate deals in a buyers market.

1.      Be willing to give on the little things. If you were planning on taking your appliances with you or selling them separately and the buyer wants to keep them in as part of the deal, go with it. Appliances don’t cost enough to make it worth arguing over, and it certainly should not be a deal breaker.

2.      Be willing to give a little on the asking price. Your asking price is just that, a starting point that you are asking for. It should not be set in stone. If someone makes an offer within five thousand dollars of your asking price, take it. Even within ten thousand can be a good deal if your house has been sitting for a long time.

3.      Be willing to work with the buyer on down payment and closing costs. You can get a much better offer in many cases if you stick to your asking price but make a “seller’s contribution” to the down payment and agree pay the closing costs. This way the buyer has to give up less money to get into the property, which makes them more likely to buy from you.

4.      If your house has been sitting vacant for a long time, you will have a harder time selling it if you don’t budge in negotiations. The longer a house sits, the less it is worth. This is what makes today a buyers market in the first place. Keep in mind this fact, and be willing to give in on negotiations when necessary to get the house sold.

5.      Don’t think you have to give in on everything. If someone wants to pay ten grand less than your asking price, have all appliances included, go with a lower down payment and still have you pay the closing costs, they are going too far. While you should be willing to be flexible, don’t let buyers walk all over you either. Other wise you will find quickly that you have made a deal that leaves you in the hole, all in the name of selling quickly.

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Moving from one place to another can be a difficult proposition. If the move is from one city or state to another, it can be even more trouble to get everything done. Many people will try to shortcut the process by using the same Realtor for both selling their old home and buying another. Here are 3 very good reason s why that is a bad idea.

1. Buyers’ Agent vs. Sellers’ Agent

A Realtor generally works as either a buyers’ agent or a sellers’ agent. At the very least, most Realtors have the bulk of their experience as one or the other. The best move you can make is to get the best person for each job. Your buying specialist will know and help you with all the details of choosing, inspecting, and dealing on a home you are purchasing. The sellers’ agent will know the best ways to put your old home on the market, prepare it for sale and make that kind of deal. Let each expert shine.

2. Knowledge of Location

It is always best to work with a Realtor who has personal knowledge of the city, and especially the state where you want to live. They can then help you find the best neighborhoods, the best schools, and the best areas for transportation. They are more likely to know people who are looking to buy or sell homes in that location than someone who is working from afar.

3.  Knowledge of Local Rules

A long distance move usually entails working with different laws, rules and regulations in buying or selling a home. In selling the home, you will need to be sure you have satisfied all the local requirements for inspections, disclosures, and other paperwork. As a buyer, you will want to make sure you are getting the full rights that are afforded to you in the locale you are moving to. Unless one Realtor works in both locations, it makes sense to use two separate people or agencies.

When to Break This Rule:

 Every rule has a breaking point, and this rule is no different. There are some times when using one Realtor can actually help the move go more smoothly. For example, if you are moving from house to house within a metropolitan area, one Realtor would probably have enough knowledge of the place and laws to guide you well in both areas. Then, a quick move may be easier to accomplish because your one Realtor is orchestrating both the sale of the old and the purchase of the new so that they can happen as close together in time as possible.

Learn about the background, qualifications, and locality awareness of each Realtor before you sign on. In the end, only you can make the decision to use one Realtor or to use two completely separate Realtors for buying and selling your properties in a move.

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Buying a home is one of the most important decisions anyone can make.  That is why many prospective buyers have learned how important having a home inspection done is.  While your dream house may look perfect from the outside, there may be hidden problems that are not noticeable to many homebuyers.  A home inspection done by a certified inspector will help you identify these problems and help you decide if they are too big to be fixed or if there is something structurally wrong that may be hazardous down the road.

Many states require that purchase contract contain a clause that allows the buyer the right to have the home inspected prior to purchase.  It is important that all prospective buyers take advantage of this clause; it was included for your protection and should be utilized.  It is important, however, to be aware of the time limit that is allowed for having an inspection done.  If you schedule your inspection after the date in the contract, you may not receive a refund of your down payment if a problem is found.  Always read the contract thoroughly and beware of any dates and limitations that may cause you to lose out on a refund if a problem is found.

Once you have found a home that you are interested in, you will want to find a certified home inspector to inspect the home.  If you are unsure of where to find an inspector, your realtor may know of some that they have worked with in the past.  Having found an inspector and set a date for inspection you and your realtor will meet the inspector at the home.  This allows you to see and hear firsthand any problems that have been found.  In most cases the inspector will walk you through the house and point out any problems that they have found.  If the inspector finds that the house is in good condition without any major problems, you can then proceed with your purchase.  If the inspector finds any problems, you will want to take them into consideration and decide if you want to go through with the purchase.

The inspection process was designed to prevent prospective buyers from buying homes that are not safe or that will require a lot of time and money to repair.  It is highly recommended that every prospective buyer take advantage of having a home inspection done, after all, a few hundred dollars spent may save you thousands in the long run.  It is worth the time and money to insure that the home you are buying is worth what you are being asked to pay.  Think of it as a way to prevent headaches and heartache once the closing papers have been signed and you have already moved in only to discover that your home is infested with termites that would have been discovered had you only had an inspection done.

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