Have you found the perfect house, but don’t know what to offer? Are you at a loss on how to negotiate effectively? If this sounds like you, you have come to the right place Boulevard 88 Singapore. This article will give you sound advice from a retired real estate agent with over 20 years experience.
Know The Market
The first thing you should do before starting any negotiations is to do a search of recent home sales in your area. Find homes similar to the one you are looking at to help you come up with a fair offer. Take the time to drive by each home that has recently sold and compare it to the one you are trying to buy.
Your local tax assessors office will have a lot of information to help you. You can find out the sale date, the sale type and the type of deed offered on each sale. Use this information to do a comparative market analysis. In addition to the sales information, the tax assessors office will have the tax appraisal amount, the square footage and the lot size of each home in the area.
Hire A Buyer’s Agent
If this is your first home, you may not realize that there are several types of real estate agents. The two most common types of real estate agents are buyer’s agents and seller’s agents. The type of agent you use can help you get the house at an affordable price.
A seller’s agent is generally the listing agent. This agent has been hired by the seller to list and advertise the property as well as get the seller the most money possible for the home. A seller’s agent charges a commission to the seller at the time of listing the property. This commission will be paid at closing.
A buyer’s agent is an agent that solely represents the buyer. A buyer’s agent will get a portion of the listing commission. If you hire a buyer’s agent, they may ask you to pay a certain percentage of the sales price. This type of agent works for you to help you get the best deal possible.
Give And Take
Everything listed in the sales agreement is negotiable. For example, many sellers will agree to leave the appliances in the home if sold at full price. If you do not want or need the appliances, you can offer less and tell the seller they can keep the appliances. Also, if you are pre-approved for a loan or are a cash buyer, the seller will generally take a lower offer. Remember just because the seller comes back with a counter offer does not mean that you can’t make another offer. Many of the best deals are done when there is fierce negotiation between the buyer and the seller; however, remember other offers can come in while you are negotiating.
After reading this article, you should know how to write an offer and negotiate it. Use this information to ensure you get the best deal on the market. Remember it takes patience and knowledge of the local market to negotiate successfully. Use the advice above to help you find the best house at an affordable price.