When negotiating the purchase of your home, some ins & outs.

 I thought this would be important for my buyers, as well as any other buyer! The info below will help guide you, but having a Realtor by your side is worth every step of the way. I’ve taken on buying my first home w/o an agent , boy that was not one of my best decisions and I’m glad I wasn’t representing a client at the time. Years of schooling and hands on experience I’m the right agent for my clients! 

Read below to arm yourself with some negotiating tips, I believe all buyers should be knowledgeable.

When buying a home – most of the negotiations occur before the seller and buyer sign the contract.

Although, the negotiations don’t necessarily end with the acceptance and signing of the purchase contract. In fact, especially in competitive markets, negotiations continue once in escrow. 

In many cases, just after the buyer home inspection, issues typically arise, and any such issues spark another round of buyer and seller negotiations. The negotiations usually go one of three ways. The buyer and seller negotiate fixes, credits, or in extreme cases the buyer and seller can’t come to terms and mutually cancel the purchase contract. 

Once in contract, here are a few helpful buyer tips for navigating negotiations after a home inspection.

Don’t be afraid to ask the seller for credit (and or) fixes: After the buyer home inspection, many times the home inspection exposes certain items in the home that are not working or in need of repair. And even though it may not seem like a big deal to the seller, you as the buyer may see it differently.

As the buyer, you have the right to request from the seller to repair items of concern, replace items of concern, or ask for credit (cash-back) at the close of escrow in lieu of doing repairs. And just as the buyer has the right to ask for any such requests, the seller has the right to say no to any all request.

Of course when you as the buyer have real concerns about the home inspection and want certain items fixed, replaced (and or) receive a credit – it is important to know that you as the buyer have the right to head back to the negotiation table with the seller. And even though the seller does not have to negotiate at the table usually the buyers have a couple of factors in their favor.

First, if you (the buyer) are not happy with the home inspection report, there’s a good chance the seller will realize that the next potential buyer won’t be either. Second, once the purchase contract gets signed – most sellers are ready for the move out date, excited about life post-sale, and will be realistic about any needed request for repairs.

Depending on the buyer’s requests – I usually recommend asking the seller for cash-back in the form of credit at the close of escrow. Getting the seller to agree to a cash-back credit ensures the work gets done to the buyer’s satisfaction. In many cases, any repairs are the last thing the seller want’s to do, and they often tend to not approach the work with the same vigor as you (the buyer.) Plus, with credit at the close of escrow, there will be no going back and forth to confirm the seller correctly did the work.
 
 
Don’t show your hand at the inspection: In most cases, the selling agent will attend the home inspection and stick by your side as you walk the property. A good selling agent will be looking carefully at you – and for a good reason. They want to see if you reveal signs of content (and or) discontent. Either way, tipping your hand during the inspection can come back to haunt you as the selling agent will most likely report their findings back to the seller.
 
Example, if the selling agent observes you are excited about the home and can’t wait to close escrow, chances are less likely the seller will want to agree to any repairs you seek. Bottom line. When in the presence of the selling agent – try not to show any emotions either way and just take notes (if needed.) And make sure the selling agent is not in an ear shot when you and your agent discuss and go over the home inspection with the inspector.
 in doing so, you risk the sellers saying goodbye and canceling the deal altogether.
 

Info provided by Josh Kolsky 
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Don’t show your hand at the inspection: In most cases, the selling agent will attend the home inspection and stick by your side as you walk the property. A good selling agent will be looking carefully at you – and for a good reason. They want to see if you reveal signs of content (and or) discontent. Either way, tipping your hand during the inspection can come back to haunt you as the selling agent will most likely report their findings back to the seller.
 
Example, if the selling agent observes you are excited about the home and can’t wait to close escrow, chances are less likely the seller will want to agree to any repairs you seek. Bottom line. When in the presence of the selling agent – try not to show any emotions either way and just take notes (if needed.) And make sure the selling agent is not in an ear shot when you and your agent discuss and go over the home inspection with the inspector.
 
Consider the big picture: A word of caution: It is usually a big mistake to enter a purchase contract with the assumption that you can and will negotiate the price down during the buyer contingency time frame. Playing games can come back to bite you, particularly in a competitive market.
 
Hopefully, the property inspection comes back clean, and there’s no need to negotiate further. As mentioned – playing games with the sellers once in the contract isn’t prudent, and in doing so, you risk the sellers saying goodbye and canceling the deal altogether.
 
Buying a house is a big deal, and that’s why it is very important you work closely with your Realtor and cross all the T’s and dot all the I’s during the entire home buying process. It is very important to remember a real estate transaction is never a done deal until you reach the closing table and the deed gets transferred, the money changes hands, and you receive the keys to your new home!

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About The Samuels Team

I honor my professional oath to serve buyers and sellers and to conduct business with a high level of integrity. My strong presence in the Fredericksburg community, a joy of family and helping others excel are the personal values that attracted me to real estate as a profession. Therefore, I know what it takes to succeed in this market and have the desire to see my clients find the ideal home and build a foundation to fulfill their personal values. My personal guarantee to all clients: buying and selling homes with me and the Keller Williams Team makes home buying a positively memorable experience. Please call or email me for any of your real estate needs: debra.samuels@kw.com 540 287-8750 Thank you. http://homesbydebrasamuels.com/
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