Are you ready to negotiate your way to a good real estate deal? For many Atlanta home buyers, this aspect of purchasing a home is the least understood. In fact, many home buyers rely on the expertise of a great real estate agent to take care of the negotiation end of the real estate transaction.
While employing the help of a qualified Atlanta real estate agent to handle negotiations is a smart move, it is in your best interest to also have a good idea of the ins and outs of negotiating the deal so you can be sure you are getting the most bang for your buck.
Here’s what you’ll want to consider:
The Local Market – One of the most important considerations when making an initial offer or negotiating the sales price of a home is the local market conditions. Not just local to Atlanta, but local to the area or subdivision where the home is located. In particular, you must understand whether it is a buyer’s or a seller’s market and the recent real estate activity. It's especially important to pay attention to recent sales prices of comparable homes. This is one area that a qualified real estate agent will be well versed in, so ask for particulars when it comes to recent real estate transactions so you can better understand where you stand regarding the negotiation process.
The Home’s/Seller’s Background – Does the seller need to move because of business, or are they not in a great hurry to sell? How long has the home been on the market? Have there been previous offers? All of these questions should be answered before you make an offer, as the answers will determine how much wiggle room you have when it comes to making an offer and negotiating a sale.
Details of the Sale – The art of negotiation usually doesn’t begin and end with the sales price. In fact, your offer could include the inclusion of appliances, the inclusion of closing costs or other concessions. Details of a home sale are usually not straightforward, so look into several different concessions, particularly if the seller is not willing to come down much on the price of the home. Again, this is an area where the advice of a qualified real estate agent will be invaluable, so take the time find a professional who has plenty of experience acting as a buyer’s agent.