Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure you are getting the best possible deal for your money. [Which is why I am there to help you every step of the way.] So, what should you negotiate when buying a home?
- Closing costs. Your closing costs are determined by a variety of factors, but you can expect it to be between 2% to 5% of the purchase price. We can negotiate for the seller to cover some or all of the closing costs.
- Inspection and closing timing. Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. I can provide guidance to ensure we allow ample time to get your financing in place and complete proper, thorough inspections.
- Home warranty. Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims.
- Repairs. Your inspection may uncover small or large repairs needed to bring the home up to standard. We can negotiate to have some of these items fixed before closing or ask for a price reduction to cover the costs.
- Furnishings. Love how the seller has furnished and decorated the home? You should know, most lenders will not allow furnishings to be written into the contract as part of the sale. However, buyers can still negotiate to keep furniture, appliances, and more, as long as it is in a separate agreement.
Richard Slifkin, Broker/Realtor®
Highgarden Real Estate
Serving the Lake Norman and Charlotte, NC Area, including: China Grove, Concord, Cornelius, Davidson, Denver, Huntersville, Landis, Kannapolis, Mooresville, Salisbury, Sherrills Ford, Statesville and Troutman.