What can be negotiated in a house purchase?
Buying a home is a massive financial investment into your future. Before you sign the check, you may want to think about what you are really paying for. Can any costs be negotiated? Are you paying a fair price?
These are all important questions that need to be answered. Hopefully, you have retained the services of a real estate agent who can help you in the home-buying process. When you find a house that you love, it may seem easy to write a check without thinking about it, just to make sure someone else doesn’t buy the home first. You should make sure the seller is asking a reasonable price for the house. It may help to utilize the Internet to look at what comparable homes in the area have been sold for recently. If you notice that you are paying much higher than other people did for a similar house in the neighborhood, you may want to challenge the seller.
You can submit a counter-offer to what the home seller is asking. Don’t make it too much lower, but a price similar to the comparable homes in the neighborhood. Another way that you can negotiate is to ask the seller to lower their asking price so you can pay for any repairs that must be done on the home. Or, you can simply ask that they pay for the repairs instead.
It is important that you do not try to negotiate anything too low or the seller might accept a higher offer instead of yours. You should be reasonable. It is important that you pay a fair price. Your real estate agent can give you a better idea of what you can place your offer at since they have experience dealing with this situation.
Contact a New York real estate lawyer at Weinstein, Chase, Messinger & Peters, P.C. with any questions you may have about your legal rights or to schedule a free case consultation and evaluation. Even more than Brooklyn real estate attorneys, we consider ourselves client counselors.