When you finally find the perfect house for you and your family, it’s common to feel emotional and perhaps a little desperate during the buying process. But if you remain objective about this important purchase, you can get the best price on your new home.
Your first assumption should be that the sellers have priced strategically and are expecting you to make an offer lower than their asking price. Come in with your first offer at a price you can move up from, because unless the sellers are highly motivated, they will counter-offer just slightly down from their asking price.
When this happens, your next step will be to use the home inspector’s report to your advantage. On your next offer, cite repairs that the inspector has called for. You now have two options. You can either ask the sellers to accept your offer with the agreement that you will take care of the necessary repairs, or you can move up toward their price with the stipulation that they perform the needed repairs. This will usually lead to a purchase resolution.
Getting the best price on your new home purchase will positively affect your finances for many years to come.