As a Georgia first-time home buyer, buying your first home can be daunting. From finding a home that fits your requirements to choosing the best mortgage for your financial situation, there are a lot of steps to consider.
One part of the home buying process that can be especially stressful is negotiating the price of your first home. Making what will probably be the most expensive purchase of your life can be a frightening experience, however, with a little knowledge and guidance, you can prepare yourself with some negotiating tips to get a good price on your first home.
Georgia First-Time Home Buyer Negotiation Tips
When it comes to buying your first home, it’s beneficial to arm yourself with a few useful tips to negotiate the best price and score a great deal. A few tips to help you get started on your negotiation skills include:
Respond Quickly to Offers and Counteroffers
It’s important to respond to all offers and counteroffers promptly. Any delay can turn out to be an expensive mistake. You want to react quickly so the other party involved doesn’t gain the upper hand. Any delay could allow another buyer to enter into negotiations and push you out. Sellers love a bidding war. As a Georgia first-time home buyer, you want to do your very best to not get stuck in the clutches of a bidding war.
Communicate with Your Real Estate Agent
It can feel tempting to go directly to the seller thinking you’ll save time. However, a real estate agent provides a valuable service you shouldn’t ignore. Only a real estate agent can fully handle any sensitive legal terminology and information, so you don’t make any mistakes when it comes to the price. Your real estate agent can give you the best options for price negotiation and know to intelligently communicate these negotiations with the seller.
Know Your House’s Market Timeline
It’s important to know how long your house has been on the market when it comes to negotiating the price. Your real estate agent should have this information for you and can help you negotiate to give you the best possible advantage. The longer your potential home has been on the market, the more likely the seller is going to want to sell it for a reasonable price.
Consider Any Repairs
When buying any home, it’s crucial to consider the need for repairs. Work that needs to be done on the house and any other potential developments should be discussed during negotiation. Having an inspector check out the house for a home purchase investigation can help bring any potential issues to light. If a lot of work is needed, then you can easily argue for a reduced price.
As a Georgia first-time home buyer, we want you to get the best price you can on your house so you can start your future out at an advantage. While you negotiate the best price for your home, let BrightPath help you find the best loan to help you make that purchase.
Check out our many great loan options and give us a call today at 888-222-6003 or complete our online form so one of our experienced mortgage specialists can help you get on your way to securing your brand-new home.
