If you're shopping for Seattle real estate in a buyer's market, you're usually in an advantage as there are many available homes while there are only a small number of buyers. Generally, the number of houses continues to rise so the days on the market are probably increasing, which puts you in a beneficial position to negotiate with sellers. There are many different ways you can make a purchase offer for your advantage.

These days, more or less 80% of buyers search online when they start to look for properties that are up for sale. A lot of these people are not aware that such data they're viewing may possibly be dated as some agents still leave listings that are already sold and expired as active. You may be one of these buyers. What you should do is to have your e-mail address listed by your agent so you can have access to some of the information real estate agents get by receiving price changes and new listings in the Multiple Listing Service or MLS.

The majority of buyers want to make a low-ball offer in which the price offered is below the sales price. Such offers are usually rejected if they are offered for homes that have been recently listed. If you plan to do this, you should choose houses that have their prices reduced or those that have stayed on the market for about 30 days or more. Sellers of such homes will probably take any offer into consideration.

Once you've found the house you think would be perfect for you, it's advisable to ask your real estate agent to hand a list to you that includes houses in the same vicinity that are about the same as the one you've picked. This list has to have the following information: the number of rooms and baths, sales price, square footage, lot size, address, and age of the home. Compare all the information you gave obtained.

If you're in a buyer's market, it's normal that you're on top of things. Because of this, it is wise if you ask for contingencies. Make your offer contingent on home inspections, appraisal, the getting of your mortgage loan, and the price agreed upon by both the buyer and the seller. You may also request a loan contingency that would safeguard you all throughout the process until the last stage, which is the closing; just ask your real estate agent or lawyer if this is possible. Moreover, you should demand a reasonable period of time for home inspections to be performed. Normally, buyers can back out from the deal during contingency periods without even risking an earnest money deposit.

Customarily, closing costs, such as recording fees, escrow, title insurance, or property taxes, are paid by the buyer; these can total between 1% and 2% of the price. In a buyer's market, however, it's possible to make the seller pay for these charges. Simply ask your agent whether these costs can be negotiated and then ask the seller to pay for them.

After home inspections have been conducted, you may renegotiate with the seller about the price or ask him/her for a credit against the costs of closing if there are repairs needed; the majority of purchase agreements offer buyers the right to withdraw from the contract if ever the inspections show defects and faulty objects that may be regarded as unacceptable. However, keep in mind that you shouldn't request a price reduction if the flaws were noticeable when you first saw the property or else, the seller might refuse to renegotiate with you.

Moreover, it would be wise if you limit the acceptance period to a maximum of 24 hours. If you give the seller a lot of time, he/she might wait for better offers from other buyers. If your real estate agent is presenting the purchase offer personally, he may ask for a decision after the presentation. There are a lot of available Seattle homes for sale so it's just practical to receive a fast answer.