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For most people, purchasing a new home is one of the largest investments they will make, which is why getting the best price possible is a worthwhile endeavor. However, negotiations can be difficult, especially if sellers are set on a specific list price. Here are three tips for negotiating successfully for a house and how your real estate agents can help. 

What Are the Essential Negotiation Tips for Buying a Home?

1. Appeal to Their Softer Side

Sometimes, negotiations are difficult with sellers because they have a lifetime of memories in the home. Stand out as a qualified buyer by writing them a letter indicating why you want the house.

Explain how the floorplan could make aspects easier for your family, how you can imagine the kids playing in the backyard, or how much your dog would love the nearby trail. Sometimes, a few words could be all it takes to tip the scales in your favor. 

2. Stick to The Facts

real estate agentIf you can tell that the seller is mainly concerned with the price of the home, stick to the facts. Explain how their price is higher than the average price-per-square-foot of homes in the market, and explain what you are willing to pay.

You could also use information about the condition of the home to negotiate for a lower price. For instance, if the home needs a new roof, you could ask your real estate agent to request a lower sale price to accommodate the cost of that project. 

3. Take a Step Back 

Make sure the seller’s real estate agents know you are serious by taking a step back from the negotiations. If you place an offer and they reject it, move on to looking at other properties in the neighborhood or city for a bit.

While it’s always risky to step away, sellers may reach out a few days or weeks later if the home is still available, since they know you were interested. 

 

If you need to purchase a new home, work with the experienced real estate team, Lawrence Realty Inc. Since their inception in 1948, they have been committed to finding the perfect homes for their clients and negotiating carefully to garner the best price possible for their previous homes. Whether you are ready to buy or list, visit their website to learn how they can help, or give their team a call at (651) 388-4745.

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