.png)
Real Estate Agents are expert negotiators. Some may decide that they would rather negotiate without an agent, however, negotiations can be emotional when you are personally invested.
An agent will separate their feelings from their emotions in the homebuying process
An agent has experience in the wider market and doesn't just look at one transaction when negotiating.
An agent will know the specific value of the property in today's current market.
An agent will also know what is normal and necessary when renegotiating prices, terms, and conditions after an appraisal or an inspection.
Negotiable items on a House
Price, Terms, and Conditions are negotiable when you write the initial offer and can be renegotiated based on the outcome of each written contract contingency. Common Contingencies Include:
Inspection Contingency
Appraisal Contingency
If you are buying a condominium, there should be a contingency on the review of Association Documents
Mortgage Contingency, which should not be removed until your lender has the funds available to you (usually 3 or 4 days before you get your keys and sign the final documents). If you are paying in cash there will not be a mortgage contingency
There will also be a contingency on the final walk-through. The final walk-through will occur within 48 hours before you get your keys and sign the final documents. The final walk-through is in order that you are certain the house you are buying looks the same way, if not better than it did the first time you saw it.
Other contract contingencies may be present depending on the type of home you are buying i.e. if you have well water there will be a contingency on testing the water or if the house has a septic tank there will be a contingency on a septic inspection.
Negotiating the sale or purchase of a house is complex. Call your realtor today to learn more about each point above and others that may not have been mentioned in this brief overview: Tanya: 734-330--4310
Comments