Buying a Home Step 9: Negotiations
/Negotiations are an important part of any real estate transaction. Here are some common negotiations that may arise during a real estate transaction:
Price: The most common negotiation during a real estate transaction is the price of the property. Buyers and sellers may have different ideas about the value of the property, and negotiations may be necessary to come to a mutually acceptable price.
Repairs: After a home inspection, buyers may request repairs to be made before closing. Sellers may negotiate which repairs to make or offer a credit for the buyer to make the repairs themselves.
Closing costs: Buyers may ask sellers to cover some or all of the closing costs associated with the sale. Sellers may be willing to negotiate on this point to make the deal more attractive to the buyer.
Contingencies: Buyers may have contingencies in their offer, such as a contingency on the sale of their current home or financing. Sellers may negotiate the terms of these contingencies or ask that they be removed altogether.
Closing date: Sometimes buyers and sellers may have different timelines for closing. Negotiations may be necessary to find a closing date that works for both parties.
It's important to work with a real estate agent who can guide you through the negotiation process and help you come to an agreement that works for everyone involved.
Are you ready to begin the home-buying process? Whether your timeline is 3 weeks, 3 months, or 3 years, our team is here to help you every step of the way! Get started now by filling out our Ready To Buy Survey, and our team will reach out to schedule a call to discuss how we can support you on this path.
Terra Wright Knudsen- Bainbridge Island Realtor
