Home Buying Tips

One of the most frequently asked questions about buying a home is related to negotiating a fair price. Buyers -- especially first-time home buyers -- want home buying tips, particularly about negotiating.

While some people feel uncomfortable bargaining even at a garage sale or farmer's market, in real estate, negotiating is part of the home buying process.

Here are proven tips for becoming a successful negotiator when it comes to buying a home:

Home Buying Tip #1: Know your seller's motivation. A seller who needs to move quickly because of a job transfer, divorce, or contract on another home is more likely to accept a lower price. In this case, the seller is motivated by closing the sale quickly.

Home Buying Tip #2: The "listing" or "asking" price is what the seller ideally would like to receive. However, it's not necessarily what he or she will settle for.

Home Buying Tip #3: Before you make an offer, know the market value of the home. Your CENTURY 21 agent can help you determine this by checking recent sales and listing prices of comparable homes in the neighborhood where you're looking.

Home Buying Tip #4: Be flexible. Never say, "Take it or leave it." An attitude like this can ruin the potential for making a deal.

Home Buying Tip #5: Each time you increase your offer price, ask for something in return such as repairs, appliances, even lawn furniture or the riding lawn mower.

Home Buying Tip #6: Take a tip from poker players and never show your hand -- or reveal your next step.

Home Buying Tip #7: If you plan to pay cash or have a tentative commitment for a mortgage loan, use your strong financial position as a bargaining tool.

Home Buying Tip #8: Don't let your emotions (or those of your spouse) get in the way of negotiating the best deal. Leave your pride, fear, anger, and emotional attachments at home.


CENTURY 21 in 42 countries, 104 languages, 7,800 offices, we are 143,000 agents of change ready to help you negotiate a successful home purchase.