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Negotiate on These Five Things Before You Buy a Home

Negotiate on These Five Things Before You Buy a Home

Most home buyers know that they can negotiate the price of a home when they go to make an offer on it. But, what may come as a surprise to many first-time homebuyers or even some more seasoned buyers, is that there are a few other negotiations that can be made when you buy a home.

Before you simply accept a seller’s terms, understand that you can negotiate on these five things—and maybe some others too!

1. Appliances

In most states, items in a home that are bolted down, like lighting fixtures and curtain rods, cannot be taken out of the home once it is sold. The same goes for major appliances, like the home’s refrigerator, washer and dryer. But, what if a buyer doesn’t want the appliances or other items they see in a home they plan to buy? Those buyers may be able to negotiate to have the items removed from the home. With less items in the house (and the new need to purchase appliances), buyers may be able to negotiate a lower price on the home.

2. Furniture

Many buyers may not even consider asking for a seller’s furniture. But, what if it happens to be a customized piece that fits seamlessly into a space that you just know will be difficult to fill? No matter where a piece of furniture is placed, a buyer has the right to negotiate for it. In fact, some sellers may be happy to part ways with a piece of furniture if they know it will seal the deal on their home sale. Remember, it never hurts to ask!

3. Repairs

On the way to closing on a new home, you’re going to undergo an inspection. That inspection could unveil some deal breakers when it comes to your new home. But, it also could unveil some not-so-terrible issues that you may not be happy about, but won’t deter you from buying a home. What is a buyer to do? Make a bargain! Buyers should not be afraid to factor in the cost of repairs when it comes to closing on a home. 

4. Length of time to close

When you go to buy a home, you may expect a 45-60 day closing period. If a buyer would like to get into a home before the standard closing period, they certainly can negotiate a shorter closing. In fact, sellers may even be excited about this negotiation, particularly if their home has been on the market for a while. Don’t be afraid to look – and ask – for a shorter closing period if you need one.

5. The leaseback

On the opposite end of the spectrum, if a buyer is not in a hurry to get into a home, they may be able to offer the seller a leaseback. This negotiation is one that sellers actually may be more inclined to accept – or even request. If a seller is not quite ready to move out of their home, a leaseback offer may sweeten the deal for a buyer. So, if you’re looking to gain that competitive edge when you make an offer, consider offering a leaseback!

Planning to buy a home this spring? Know that you have the power to negotiate—and, not only on a seller’s price! If you need some help buying a home, work with a trusted real estate professional.