How To Get The Best Deal When Buying A Home

It can pretty difficult to know exactly what is happening in the housing market today; we hear prices going up then prices going down but one thing is for sure – this is the best time to wheel and deal and get more value for your bucks.

To start your search clearly you must have a budget in mind; once you know your price range your real estate agent can access the homes you should begin looking at. Some of the homes will be right on mark, some higher and some lower than what your budget demands but this gives you room for negotiation.

Do you have a community in mind?

• Find out what other properties in that area have sold for on the market recently to get a good idea of what you should offer for it. You can also check public records at the county clerk's office to find out what they deem the property to be worth.

• If the average time a property is on the market is approximately 10 weeks and the property you are looking at has been on for 13+ weeks then you definitely have room for negotiations.

“New home buyers recently reported they got the best deals with homes that were on the market 100+ days and the price had been discounted from the original price twice.”

So how do you find the deeply discounted gems? Size up your seller, perform a bit of research and ask the right questions.

The reasons for selling a home places more pressure on the seller:

1. Divorce, most couples want to end joint ownership of a home as soon as possible.

2. Job transfer, seller has to be at a new location by a definite date.

3. Buying another home, seller signed a contract to buy another home and needs a quick sale.

Questions that lead to Discounts

While viewing homes, even if you fall in love with a property the minute you walk through the door, stay calm and do not give away how enthusiastic you are about the home.

Instead, ask questions to establish the possibilities for negotiation. For example, ask

• Again, Why the owner is selling the home (if it is a result of an imminent job move or financial difficulties they may be eager to make a quick sale),

• How many people have viewed the property, and

• How many have been back for a second viewing – if there haven't been any they are unlikely to have had many/any offers.

So negotiating to get the best deal when buying a home is a bit of art and a bit of science; a savvy real estate agent can make all the difference in helping you get the best price.