If you’re searching for a home online, you’re not alone; lots of people are doing it. The question is, are you using all of your available resources, and are you using them wisely? Here’s why the Internet is a great place to start ...Read More
Negotiations begin in earnest with your written offer to buy and can continue through the closing of your purchase. Through all negotiations, your Bay Area Modern real estate agent will be your advocate to help ensure a smooth process and the best possible position for you. By doing a little groundwork, your Bay Area Modern agent can gain understanding of the seller's situation and help you craft a strong offer. Typically, items open for negotiation include the sales price, the closing date, who pays the closing costs, what personal property will be included in the deal, and which escrow and title companies will be used. Other items may include home inspection and financing contingencies, as well as other stipulations related specifically to your transaction; including home warranty, hazard zone information, surveys, government mandated retrofitting, or other issues unique to your situation.
A second round of negotiations will occur after the home inspection report. Sometimes small issues may arise that can be easily corrected by the seller. At other times, the inspection might reveal larger problems such as electrical or plumbing issues, termite damage, or mold. At this point, the seller can choose to repair, give a credit, or decline your request for a repair. In most cases, the buyer and seller are able to come to a reasonable agreement through negotiations and move forward. If not, you will have the option of withdrawing your offer.
Remember that negotiations are intended to improve your position and protect your interests. This can be an emotional experience, and there is always the danger of overreaching and alienating a seller. Your Bay Area Modern real estate agent is your advocate and will use professional skill and knowledge in helping you to buy your new home at a fair price, without compromising your wishes.
Learn about the next step in the buying process, Conducting Home Inspections.