December 10, 2019
Whether you are a San Diego first-time homebuyer or a seasoned San Diego home-buying veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure
you are getting the best possible deal for your money. So, what should you negotiate when buying a home?
1. Closing Costs
A buyer’s closing costs are determined by a variety of factors, but you can expect it to be between 2% to 5% of the purchase price. Ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.
Do you love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. And many sellers agree, wanting to make the home more appealing.
3. Inspections & Closing Date
A lot of time frames in the escrow can be negotiated. Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. Just ensure you allow yourself ample time to get your financing in place and complete proper, thorough inspections.
4. Home Warranty
Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims. There are many home warranty companies out there. American Home Shield is one my clients have used in the past and have had no issues.
Your inspection may uncover small or large repairs needed to bring the home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs. There is an actual form called Request For Repairs.