What to negotiate when buying a home

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?

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.

All process negotiations will vary in different areas and market conditions.  For example, in a "Seller's Market" where housing inventory is low, Sellers many times won't agree to offer concessions, closing costs or repairs.  If this is something you plan to do, be sure to talk with your agent prior to writing up an offer so that you are authentic with the terms and contract you present.

The #1 factor that sellers weight the most in an offer is the closing date.  To ensure you're coming in with a solid offer and closing date timeline, it is critical to have your financing, and pre-approval done Prior to even searching for a home.    

Can I buy a home when I relocate or should I rent first?

I want to relocate to Florida; can I buy a house when I move down without being at my new job for a year or do I have to rent first?

Most lenders would like you to be in a new job for at least a year, but there could be some give in that if you are transferring. If you are paying cash for your new home you will be fine. If you need financing however, you will need to prove the lender how are you going to pay the mortgage every month for the next two years.
If you have a lot of assets generating income or income coming from a pension, it might work if you have no gaps in employment, are employed in a similar field and have proof of employment such as a contract and are moving for the new job you should be fine. If you have gaps of time unemployed, are starting a new career it might be hard. Without knowing your whole financial picture it’s best to talk to a mortgage specialist who can guide you through this. 

Thinking about buying a home?

Are you thinking about buying a home?

There's a big checklist to go over when buying a home: school rankings, traffic patterns, noise level, Walk Score, crime rates. When you throw in competing buyers, possible multiple offers and lender requirements, the process can be overwhelming. But there's no reason to go it alone. That's where I come in. As your local agent, I'm here to help you every step of the way. Whether you've just started thinking about buying a home or have already decided to take the leap, give me a call. Let's see what's possible.

Home Search. Where to start?

What's the best way to start searching for a home? Before you start clicking through new home listings on the Internet, save yourself time upfront. Make sure you've pre-approved by a reputable lender that knows our local market. Not sure who to call? Let me help. I work with lenders every day and can share my experience. As your local agent, I'm here to answer your questions – whether you're just thinking about buying a new home or are ready to take the leap. Please send me an email or give me a call.

Home Price. How much is too much?

How much is too much? You need to consider two numbers when shopping for a home. The first one your lender will give you: The maximum home price you can afford. The second number is even more important: what's the maximum home price you're most comfortable with? After all, you're the one who is going to make the monthly payments. You need to decide your comfort zone. Find your sweet spot and when you come across the home you're looking for, you'll know you can also find a home loan you can live with. Ready to start? As your local agent, I'm here to help.

Needs Vs Wants. How to decide?

Do you have two lists?

Houses are as different as people, and finding the right fit can be challenging. The best approach is to make two lists. One list is for your needs: What are the things you absolutely need in a house to even consider buying it. The other list is for your wants: Features that you'd like to have, but aren't crucial. What's on your lists? Let me help you sort through what's on the market today. As your local agent, I can help you find the home that's just right for you. Please send me an email or give me a call.

Which neighborhood is right for you?

Which neighborhood is right for you?

Commuting can be a big deal in a home purchase decision. Sometimes finding a home in the right location can be harder than you think. Finding the right neighborhood – a place that works for you, your family, your job, your hobbies and your priorities – can be challenging. That's where I come in. As your local real estate agent, I'm your neighborhood expert. I'll help you find a place that's just right for you and yours. Please email me or give me a call today.