So, you’ve found the perfect home and you’re ready to make an offer—woo hoo! But before you dive in, it’s crucial to step back, stay objective, and rely on facts, not emotions. Negotiating a home purchase is about strategy, not feelings. Even I, as a seasoned Realtor®, don’t represent myself in personal real estate transactions because emotions can cloud judgment and cost thousands of dollars.
The first step? Trust your Realtor®! Just like you trust your dentist with your teeth, your lawyer with your will, or your accountant with your taxes, you should trust your Realtor® to guide you through the home buying process. They know the market, understand the strategies, and have your best interests at heart—they only get paid when you get the keys to your dream home.
Market conditions play a huge role in how you should approach your offer. In a seller’s market, where demand outpaces supply, competition is fierce. Homes sell quickly and often above asking price. Your Realtor® will help you craft an offer that’s as attractive as possible, which might mean removing certain contingencies or offering more than the listing price. On the other hand, in a buyer’s market, where there’s an oversupply of homes, you have more negotiating power. You might secure better terms, request repairs, or ask for credits towards closing costs.
Your Realtor® will analyze comparable sales, consider the home’s condition, location, and upgrades, and even assess the seller’s motivation to help you make a fair and competitive offer. Remember, once an offer is signed, it’s a legally binding agreement, so it’s crucial to understand all the terms before committing.
Bottom line: To get the best results, trust your Realtor®, listen to their professional advice, and keep your emotions in check during the entire process. With the right approach, you’ll be well on your way to securing your dream home.
Milli Cannata - Vanguard Properties
DRE # 01990936
(707)477-7839
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