The Negotiation

Congratulations, you’ve found a home you love. But what comes next? Here’s where the real magic of the negotiation begins:

First, it’s all about gathering information. Your agent will dive deep into the market, examining comparables—similar properties sold in the area or building within the last year. But it’s not just about numbers; understanding the seller’s motivations is crucial. Why are they selling? How long has the property been listed? What’s the backstory? Uncovering these details sets the stage for a strategic negotiation.

Beyond the basics, it’s about asking the right questions. Is the property vacant? Are there any hidden issues? What matters most to the seller, besides the price? Are they looking for a quick close? Do they need more time to move out of the house? These questions help lay the foundation for a successful negotiation strategy.

But it’s not always straightforward. In a competitive market, timing is everything. Is the property a hot commodity or has it been sitting on the market for a little while? Deciding whether to offer below the listing price requires nuanced judgment and expert guidance.

Speaking of guidance, having the right agent by your side is paramount. They’re not just there to seal the deal—they’re your advocate, working to fight for you in the complex world of real estate negotiation.

A word of caution: if you’re not working with a buyer’s agent, tread carefully. Dual agency can be a tricky proposition and one we don’t often recommend. Find an agent who’s got your back and knows how to navigate the twists and turns of the negotiation process.

Now, brace yourself for the rollercoaster ride of making an offer. It might take a few tries, especially depending on the season and the market. But once that contract is signed, it’s all systems go.

Within days, it’s inspection time. Cue the real estate attorney, dive into condo financials if applicable, and scrutinize those Good Faith Estimates from lenders. It’s a whirlwind, but with the right team in place—your agent, attorney, inspector, and lender—you’ll feel comfortable every step of the way.

Of course, not every deal is smooth sailing. If something doesn’t feel right and negotiations hit a snag, don’t hesitate to walk away. There are plenty more opportunities out there.

But when everything aligns, and you’ve crossed every T and dotted every I, that’s when the real excitement begins. You’re not just buying a house—you’re making it your home. Get ready to celebrate because this is where your journey truly begins.

Are you ready to begin looking for your next home? Consider attending one of our informational first time home buyers seminars to learn more about the process. Contact us at StartingPoint Realty today and let our skillful team begin the search to help you find the perfect property for your budget and your needs.