Should You Negotiate with a House Seller?

by Phyllis DiBlasi, GRI, CRS 03/11/2019

For those who want to buy a home, it generally is a good idea to remain open to negotiating with a seller. That way, you can acquire your dream residence without delay.

Now, let's take a look at three tips to help you streamline a negotiation with a home seller.

1. Be Flexible

There is no telling how a home negotiation will turn out. Fortunately, if you maintain flexibility, you will be able to go with the flow throughout a negotiation with a seller.

Remember, a homebuyer and home seller share a common goal: to ensure a seamless transaction. If you are open to negotiating with a seller, both you and this individual can work together to achieve results that satisfy all parties.

Don't forget to maintain open lines of communication with a seller during a negotiation as well. By doing so, you and a seller can keep in touch with one another throughout a negotiation and avoid potential miscommunications that otherwise could slow down or stop a home purchase.

2. Establish Realistic Expectations

A home negotiation may work out in your favor or a seller's favor. Or, in the best-case scenario, you and a seller will come to terms that fulfill the needs of both sides. On the other hand, in the worst-case scenario, you may need to walk away from a home purchase altogether.

As a homebuyer, it is important to prepare for all possible scenarios. If you establish realistic expectations as you enter a home negotiation, you can plan accordingly. Then, you and a seller can work together to accomplish the optimal results.

You may want to study the housing market closely too. In fact, you can review the prices of available houses that are comparable to the one you want to buy to ensure your offer to purchase falls in line with the current housing market's conditions.

3. Work with a Real Estate Agent

A real estate agent is well-equipped to help you handle a homebuying negotiation. Thus, if you work with a real estate agent, you can get the assistance you need to acquire your dream house at a price that matches your budget.

Typically, a real estate agent will learn about your homebuying goals and help you discover your ideal residence. Once you find a house you want to buy, a real estate agent will help you submit a competitive offer to purchase this home. Next, if a seller wants to negotiate the terms of a home transaction, a real estate agent is ready to negotiate with this individual on your behalf.

A real estate agent also will keep you informed throughout a home negotiation. Plus, if you ever have concerns or questions during the homebuying journey, a real estate agent is prepared to respond to them.

Want to acquire your dream house as quickly as possible? Take advantage of the aforementioned tips, and you should have no trouble handling a home negotiation with any seller, at any time.

About the Author

Author
Phyllis DiBlasi, GRI, CRS
Excellence in Action Originally hailing from Baltimore, Maryland, Phyllis DiBlasi is a graduate of Saint Agnes Hospital School of Nursing with a degree in Nursing as well as earning a Business Degree from Mount Saint Mary's University in Emmitsburg, Maryland. A resident of Sarasota, Florida since 1995, Phyllis has found "Paradise" amidst its pure white sandy beaches which are touted as the crowning jewels of the Southwest's Gulf Coast. As a full-time professional REALTOR, Phyllis specializes in the sale and marketing of residential properties, condominiums, golf course homes and waterfront properties in Sarasota, Lakewood Ranch, Longboat Key, Siesta and Lido Keys. Phyllis DiBlasi has been the recipient of numerous awards in recognition of her outstanding performance in Real Estate which includes being selected as a Five Star Real Estate Agent Best in Client Satisfaction since 2006, proving, yet again, that she is someone you can truly depend upon. Phyllis has deservedly earned Real Estate's most illustrious professional designations: GRI (Graduate Realtor Institute); CRS (Certified Residential Specialist) considered a PHD in the real estate field. "Accept nothing less than excellence when you are buying or selling a home".