How to Negotiate Buying a House

The idea of negotiating a home purchase may be exciting or intimidating, depending on your personal outlook and overall market ambitions. Either way, the process shouldn’t be taken lightly. Understanding how to negotiate buying a house will play a major role in your success as a buyer. You’ll want to be ready for whatever the process throws your way.

In this blog, we’ll look at the process of placing an offer, what can be negotiated when buying a house, and how to get the best results possible.

Step One: The Offer

Let’s start from the top. As a buyer, your first step in the negotiation process is placing an offer. This establishes your interest in the home and provides the seller with insight into your intentions and financial capabilities.

There are a lot of components of a buying offer – most of which are up for negotiation. While it’s totally possible for a seller to accept your offer outright, it’s a good idea to expect (and prepare for) a little bit of back and forth.

Searching for more advice on buying a house? Explore these related blogs.

What Can You Negotiate When Buying a House?

When you think of things to negotiate when buying a house, price is probably what comes to mind first. However, there are all kinds of other details that you can negotiate on when buying a home. Here are some other important details you can negotiate when buying a house.

Contingencies

Your offer can include different contingencies and conditions based on your comfort, preferences, and level of interest in the home. For example, most buyers will include a home inspection contingency, which ensures that a professional inspector is able to examine the property before the deal goes through. Some buyers may make the sale contingent on their ability to obtain financing or the sale of their existing home.

Including certain conditions in your offer can protect your interests, but they can also deter sellers from accepting it or even engaging in negotiations. An experienced real estate agent can help you decide which conditions to include when the time comes.

Timeline

Another aspect of your home purchase that’s up for negotiation is the timeline. When putting an offer on a house, you’ll need to propose a closing deadline and possession date. This is something that the seller may want to negotiate on if they’re hoping to stay in the house a little while longer.

Inclusions

When you buy a house, it won’t come with the current owner’s belongings. However, in some cases, you can request (and negotiate on) certain extras or inclusions as part of the purchase.

For example, large appliances such as a washer and dryer, certain pieces of furniture or decor, and even outdoor items like flower planters, sheds, patio sets, can all be negotiated on.

How to Negotiate a House Price

While there are lots of details you can negotiate on when placing an offer, price will be the most important one. With that in mind, negotiating a house price is more complicated than you might expect. When deciding what to offer on a house, resist the urge to submit the lowest bid you can think of. Instead, you’ll want to thoughtfully pick your offer price in a way that protects your bottom line but doesn’t turn the seller away.

Once again, the best way to do this is with the help of your agent. Using their expertise, and knowledge of local market conditions, they will be able to help you draft a strong offer that considers all the essential factors – including price. When it’s time to negotiate, they’ll help you land the best deal possible.

Searching for the right community in Denver? You may find these blog posts helpful!

How Much Do Sellers Usually Come Down on a House?

Every buyer wants to get the best deal possible. That said, it’s important to be realistic about what you can get with your budget. Most sellers will have some wiggle room when it comes to price, but that doesn’t mean you should expect to negotiate your way into a major discount.

At the end of the day, if you want to get the best price possible on your home purchase, you’ll want to work with a real estate agent who understands the local market, its homes, and how to craft a strategic yet enticing offer.

Find Your Dream Home

Searching for your dream home? You’ll want to work with a local real estate expert – like me!

With more than 20 years of real estate experience and a deep familiarity with the Denver real estate market, I can help you find a great home for your next chapter. Leveraging my expertise and experience, I’ll help you craft a buying offer that protects your interests while maximizing your chances of landing the perfect place. Book a buyer’s meeting today.

Buying a house in Denver? I can help! Send us an email at alana.hankins@compass.com or call 303.907.1500.

Book a Meeting with Me

Whether buying or selling a home in the Denver Metro area, my experience, local expertise, and market savvy can help you get the most from your next move. Book a meeting with me to see how.

Get in Touch