Negotiating For Your Bay Area Home

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.

Best Time to Sell? When Competition Is at an All-Time Low

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won't sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are seriously worried. That concern seems ...

Read More

Taking Advantage of Homebuying Affordability in Today's Market

Everyone is ready to buy a home at a different time in their lives, and a health crisis or not, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home ...

Read More

Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the perfect home. Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be ...

Read More

A Historic Rebound for the Housing Market

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why ...

Read More

What Are Experts Saying About the Rest of 2020?

One of the biggest questions on everyone's minds these days is: What's going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising ...

Read More