Home Buying in 11724>Question Details

rssraj, Home Buyer in 11375

Negotiable stuff

Asked by rssraj, 11375 Sun Jul 8, 2012

Folks

Apart from the negotiated sale price, what else is negotiable in this general area? The house I'm looking at is it in the 700's. I don't believe any sellers help out with closing costs here. From what I know, after the final price has been determined, the only other things left to negotiate would be what comes out of the inspection report and if the lender's appraisal is below negotiated price

Am I missing anything else?

Thanks

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Answers

5
Contact your local professional, she/he should help you best.

In an order to negotiate you need to have DATA that would be suggesting price reduction.
For example Market Value, as well as you can compare similar homes sold in recent time at that particular area.

Thank you
0 votes Thank Flag Link Mon Jul 9, 2012
Your agent can best help you, therefore consider a consultation; keep in mind that not all issues uncovered by the inspection are negotiable....
0 votes Thank Flag Link Mon Jul 9, 2012
The inspection report should not be a negotiable item. The inspection report is to let you know what you are purchasing. There is no perfect house.

The only two items a seller is responsible for are safety issues and environmental issues, i.e., if there are termites, the seller has to exterminate them.

If you are not able to deal with 4-5% of sales price for closing costs, perhaps you should be looking at a house that sells for a little less and is more affordable. No one should be house poor.
0 votes Thank Flag Link Sun Jul 8, 2012
Hey rssraj! Ask your agent. If you are not working with one, consider working with one. EVERYTHING is negotiable! From sales price, appliances, Having the seller pay Agent Fees, Closing Costs, even asking the seller to make necessary repairs. However, if you are really interested in the home, make sure that your requests of the seller are reasonable and somewhat "fair" to both you and the seller, so you do not scare the seller, and they reject selling to you all together, because you are demanding too much.

Have your agent prepare a CMA, and see what incentives other sellers were offering in the neighborhood, such as paying a portion of buyer closing costs, or some other credit.

I hope I have answered your question. If you have any further questions regarding this matter, or any other matter concerning your home search, I am at your service.


Wishing you the best of luck,


De Vonte Williamson
Licensed Real Estate Salesperson
Coldwell Banker Residential
36 RT 25A
East Setauket, NY 11733
Office: (631)941-3100
Direct:(631)941-6193
Mobile: (631)384-3695 (24/7 Emergency Service Available)
E-mail: DeVonte.Williamson@cbmoves.com
0 votes Thank Flag Link Sun Jul 8, 2012
You can also check out my blog about this exact situation here: http://www.trulia.com/blog/DeVonteWilliamson/2012/07/finding_the_perfect_home_its_all_in_negotiating
Flag Sun Jul 8, 2012
Do not assume that the LISTING PRICE is set in stone!!!
Have your Realtor do a CMA to determine Market Value.

Have your Realtor include Contingencies for Loan (more than 17 days), Inspection and Appraisal.
Do your Inspections; don't worry about hanging the costs on the Sellers; too small and you want to own the Inspections.

Don't worry about hanging the Closing Costs on them, they would just inflate the Selling price to cover.

You can certainly negotiate Your Interest Rate with your Lender; a 1/4 point will make a BIG difference. Talk to more than one Lender.

good luck and may God bless
0 votes Thank Flag Link Sun Jul 8, 2012
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