Thursday, 07 August 2014 19:28

3 Negotiating Tactics Every Home Buyer Should Know

Buying a home is an exciting and stressful time. The anticipation of finding a house in Springfield IL you love can get your adrenaline pumping, while coming face-to-face with an asking price that is above your budget can send you crashing down to reality. Fortunately, there are tricks to negotiating property prices. To help you get the lowest price for a home, we've complied a list of negotiating tactics every home buyer should know about.

  1. Researching the neighborhood you're interested in, and learning all you can about the area, gives you an advantage during the negotiation process. If you're unsure of what to look for, it's best to pay close attention to the condition of other homes in the neighborhood, while also researching the quality of the school system. Luckily, if you've hired a real estate agent in Springfield, IL they can help you attain all of the information you desire, along with price comparisons and future development plans for the area you wish to purchase a property in.
  2. Buyers often walk into a home expecting perfection, unfortunately, the likelihood of that happening is very low. However, as a buyer, if you're open to buying a house that needs some work, you have a better chance of negotiating a lower price. If you consider yourself handy, this strategy is definitely worth trying. While staying away from severe repair issues, such as, foundation problems or serious plumbing disasters is best, smaller and less expensive renovations can be used to bring the price of a home down. Instead of asking a seller to fix the issues, simply calculate the cost of repairing them yourself and make an offer on the house.
  3. Home's that have been on the market for a long period of time, often hold a stigma that causes buyers to shy away from them. While some of these properties may indeed have issues, others do not, which in turn provides buyers with the perfect opportunity to negotiate. Most homeowners become more open to lowering the price of their house once it's been on the market for a prolonged amount of time. Asking your real estate agent to show you properties that haven't sold in months can help you find a hidden gem for the perfect price.

If you're looking to buy a home in Springfield, IL, but don't know where to begin, please contact us today, and we'll be happy to assist you.

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