Home equity…Everybody wants it, but what exactly is it, and how do you get it?Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against
WHAT TO NEGOTIATE WHEN BUYING A HOUSE
Dated: May 13 2019
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. 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. Ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.
Furnishings. Love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. And many sellers agree, wanting to make the home more appealing. Plus, if you're moving from somewhere else in the country, it can save you a lot in moving 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. Just ensure you allow yourself 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. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.
I have a proven record of directly impacting my client’s financial success and propelling smooth transactions by applying refined management, selling, and negotiation talents. Call me today to discuss your future!
Victor Madrigal, Realtor
To search like a Realtor, text "Victor" to 210-880-6408
Marcus, a San Antonio native, is a recognized business professional who cherishes the relationship and trust the client's place in him. Over the years, he developed a love for the sense of camaraderie....
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