Know what you want – and where you can compromise.
While your real estate agent will be by your side to assist you with making an offer on a home you wish to purchase, it’s helpful if you understand some of the negotiation tactics you’ll need to employ in order to get a positive outcome on your home bid.
Trust your real estate agent. Your agent is there to negotiate on your behalf. While you ultimately decide the terms you are comfortable with, your agent will have advice and ideas to help you win the bid.
Arm yourself with beneficial tools. Getting pre-qualified for a home loan instantly marks you as a serious buyer who can fulfill the terms of a purchase contract and will elevate you over other home shoppers who have not yet taken that step.
Have a set budget. You and your mortgage professional will review your financials before you start house hunting to determine the monthly payments you are able to make. Stick to the budget so you don’t end up signing a deal you are unhappy with.
Be prepared to compromise. Ultimately, to win the bid on a new home, you’ll need to know what terms are important to the seller and respond to them as best as you can. This doesn’t mean you must give up any terms that are important to you, but having an open mind can help you win the contract.
If you haven’t been pre-qualified yet, talk to one of our knowledgeable mortgage experts today and get started looking for the house of your dreams with confidence!
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