Useful Hints to Help You Through Negotiating the Price of a House

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  • Author Benjamine Hill
  • Published May 27, 2010
  • Word count 505

For many people, negotiating the price of a house can seem quite a struggle because of many factors. Some probably don't have any idea what the going rate of similar houses is and end up trusting other people's opinions about it. Some people may just find the idea of negotiating to be unpleasant. If you learn how to negotiate properly, you may get a good deal for the house of your choice and the negotiations would go more smoothly. Here are some important suggestions to keep in mind when negotiating for real estate:

Do your homework, come prepared.

This is something that a lot of first time home buyers overlook when offering an amount for a property. Sometimes, home buyers make the mistake of basing their offer on the list price of the house, thinking that anything lower would automatically be better. It's best to make an offer based on facts that you yourself had the initiative of collecting. For example, if you plan to purchase San Marcos real estate, then some of the things you can do is to search the internet for San Marcos homes for sale, search newspaper ads, talk to people who live in the community and find out about the trend of prices for the homes that are for sale in the area. Target homes that have the same specifications as the one that you want to buy. The should be from the same community, have roughly the same size, floor area of the home, number of rooms, and things like that. It may be hard to find a house with the exact same specifications but at least you'll have a figure in mind about the going rate of houses in the area and you'll be better equipped to make an offer that is fair both to you and to the seller.

Don't offer too much information.

Remember that even if you get along superbly with the real estate agent that's helping you find a home, he or she is still a salesperson and thus the goal is to sell you property. Be careful not to let on about personal stuff that might hurt your chances at negotiation. Letting on that you have an emotional or sentimental attachment to the neighborhood, or that you're going through a separation or divorce and really need to move into the house may not be the best thing to do. Keep the information to yourself and don't think that because you're hitting it off with the seller of with the real estate agent, that they have your best interest in mind. It's not always like that and you may find yourself in a frustrating situation.

Don't jump at an offer right away.

Think an offer through before you jump on it. Don't get all excited and accept the offer right away without studying it first. Taking reasonable time to make a decision will tell the agent and the seller that you are an educated buyer and that you can hold your own during negotiations.

Benjamine Hill is a freelance writer who writes about articles related to real estate. Visit our website for more information about San Marcos homes for sale and to look at San Marcos real estate listings.

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