Buying a new home isn’t cheap, but careful negotiating can allow you to save money. Whether you’re still searching or currently under contract, it’s important to negotiate as many expenses as possible.
“It’s important for buyers to be assertive in their negotiations and to advocate for themselves to get the best possible deal,” said Adie Kriegstein, a licensed real estate salesperson at Compass Real Estate, based in New York City.
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Before starting negotiations, she said you need to do your research.
“Examine the local real estate market, including comparable home sales and the typical closing costs in your area,” she said. “Don’t be afraid to walk away from a deal if the seller isn’t willing to negotiate on certain costs that are important to you.”
She said you’ll need to be respectful and remember that negotiating should be a give-and-take process.
“Don’t make demands or try to bully the seller into giving you what you want,” she said. “Consider working with an experienced and seasoned real estate agent as they can help you navigate the negotiation process and provide valuable insight and advice.”
Chances are, you can think of a few costs to negotiate, but there are likely several you hadn’t considered. Here’s a look at eight expenses to try to save money on by negotiating with the seller during the buying process.
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