Home Buying Tips: How To Squeeze The Seller And Get A Discounted Price

There are three reasons why you wanna ask a seller for a discounted price - first, the original offer may be over your budget, secondly, you think the price is too high for the home, and lastly, you just like discounts. If so, here are some ways to get the seller to lower the home price:

Sale background check

The best way to know if a discount is possible is knowing why the seller decided to sell the house. If it seems like their reason is time-factored, then there should be a reason for the seller to accept lower offers. If it looks like the sale isn't hurried and the seller isn't in excessive need of cash, then a price drop may be difficult to achieve. But still, it's better to understand the sale motivation instead of coming into the transaction blind as there is always a possibility that the seller can offer the home in a lower price.

Study the surrounding area's market

This is one of the matters where a real estate agent could come in handy. Although of course, you can also use a Comparative Market Analysis to determine the selling price of homes in a community. This is something you can do to determine whether the priced offered to you is a reasonable one. While you cannot always generalize home prices, this will still help you in understanding whether your seller's price is standard or not. This will also give you an idea as to how much discount you can ask for.

Faster closing

Sometimes sellers do not only focus on the price, sometimes you can also suggest a nearer closing that will make the seller consider your price offer. This will work out especially when the seller has already bought a new home and could use some extra savings.

As a conclusion, if you have already found your desired home and are more than eager to drop the cash, keep in mind that there may still be things that you can do to lower the offer. You can take home a better deal if you take extra steps in your real estate transaction.