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Negotiating the Home Price the Wise Way

One of your greatest dreams is to have a home you can call your own. In fact, purchasing a home will be the most significant purchase you will ever make.

Even if you have the available cash, negotiating the home price is always important

HERE ARE SUCCESSFUL STEPS IN NEGOTIATING THE HOME PRIC Asking Price: This is the amount of the initial offer that is the subject of your negotiation. Will the present market condition affect a rise or lowering of the price? In case, the market requires an increased in cost or many possible buyers, how high are you going to bid?

Initial purchase price: In case, the house needs repairs as recommended by the house inspector, will you ask for the repair to be deducted from your payment or will you shoulder the expenses yourself? Consult how much available amount will be given to you by your lender.

Acceptance of offer and counteroffer: Present the situation to the seller and what conditions are beneficial to both parties.

There will be continuous offers and counteroffers until a mutual decision is agreed upon.

Escalating Cost: There might be a sudden rise in the price because of unavoidable reasons; an increase in tax, new ordinances, and others. Taking into account all the circumstances, you will either quit or continue.

Risk in negotiating the home price. When the price is increased because of escalating costs and many competitors, you must not be tempted to overbid. Offer what is within your means.

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