Financial Answer Center
- Making an Offer
- Items for Negotiation
- Entering into a Contract
- Hiring an Attorney
- The Application Process
- What to Expect After Application
- The Commitment
- Should You "Lock In?"
- Legal Forms of Ownership
Negotiating your deal is something of an art form. Here's a list of some items you'll want to consider in negotiating your purchase price.
What will be included (or excluded) with the home when you take possession?
- Appliances
- Curtains/rods/blinds/shades
- Ceiling fans
- Chandeliers
- Refrigerators
- Carpeting
- Security features
- Television antennas
- Screens
- Special outside lighting
- Bookcases
Other items:
- Repainting required?
- Carpeting needs replacing or cleaning?
- Landscaping need work?
- Any warranty? If so, will seller pay for it?
- Roof in good shape?
- Walkways cracked?
Once you've decided on your figure, you'll present that figure to the agent, who will convey the information to the seller. You may be asked to deposit a token amount of cash with your bid, say $100. Get a receipt if you do. If the bid is unsuccessful, you'll get that money back.
The agent will get back to you with the seller's decision. They can accept your offer, reject it, or counter-offer. This is where the negotiating we just discussed comes into play. Most likely, you'll go several rounds and probably agree on something by the fourth or fifth round. Once you do, your next step is to enter into a contract.
