Property On Show
What homes are on show this weekend? Look below and let us lead the way to your new...
Residential for sale
Look no further, you have come to the best real estate firm, Let us help you find your future...
Farms & Smallholdings
Browse through our wide range of farms and small holdings, we offer it all!
Vacant Land
We have various pieces of vacant land available - small, medium and large.
Commercial
Let us help you find the most suitable commercial property to suit all of your business...
Residential to Rent
Are you looking for a rental property? We have it all! From apartments to townhouses and...
Commercial to Rent
Let us find your new office or store location with our large commercial portfolio.
Featured Property to Rent
LOOKING FOR PERFECTION IN A HOME? THIS IS IT! This 4-bedroom, 3-bathroom home is...
Landlords Rent Your Home.

Looking for a secondary income with none of the stress? Let one of our professional consultants manage your rental property for you. We have several great properties available to suit your needs.

Developments
Looking for a brand new home in a secure complex? Let us connect you to your dream...
Featured Developments
Green Development in the Old East of Silverton Introducing a brand-new...
Development On-Show
What’s on show this weekend? View our listings on show and let us lead you to your new...
Let Us Market Your Development

We take a fresh look at marketing your new development by making use of our extensive list of potential buyers, our years of expertise in the field and our modern marketing techniques to help ensure we offer a fast, efficient and professional service with a smile.

Company Profile
Put your most important investment in our capable hands & read our pledge to...
Our History
Our story began in 2012 with only 5 estate agents working from our head office in...
Bond Calculators
Find out what you can afford from the comfort of your home. Make use of our user...
Stay Informed
Sign up for our monthly email newsletter that will keep you informed about all the latest...
Property Email Alerts
Be the first to know what properties are new on the market.
Latest New Article
Stay up to date with the latest news in the property industry.
Nearest Branch
Whether you are looking to Buy, Rent, or Sell, click below locate an Apple Property...
Meet The Directors
The Directors and Founders of Apple Property Connection pride themselves on the...
Meet The Team
Meet our passionate Estate Agents, assistants and support staff.
Join Us
We have several options available to any top qualified agent who would like to...
Sell Your Home
Are you selling your home? Find out more about our modern marketing that will...
We’re Social
Apple Property are on all popular social media platforms. LIKE, FOLLOW and SHARE
You are here: Apple Property / Latest News / How Much Can You Negotiate When Buying A Home

How Much Can You Negotiate When Buying a Home?

SHOWING ARTICLE 156 OF 255
GALLERY

How Much Can You Negotiate When Buying a Home?

Category Buying

Buyers are often weary to negotiate the price of a home.

Where do you start? How much is too much? How much is too little? These are all common questions that arise during the buying process. When you find the house of your dreams, you don't want to do anything to mess it up or to lose it.

So should you rather pay the asking price and sit with a massive bond for the next 20 years or should you try your luck in negotiating and risk a rejected offer?

Even if you are a seasoned real estate investor, negotiating can lead to anxious thoughts and feelings. It takes careful navigation to know which points you can negotiate and with how much room you have for negotiating.

If you are prepared and you have done enough research, you are in a better position than someone who is negotiating blindly.

There are a few important points to note when buyers negotiate homes and certain ways in which you can counter-offer. Here are a few important things to consider when negotiating during the buying process:

#1 - It all depends on the real estate market

The most important factor that drives the negotiating process, is the state of the real estate market in the area. These conditions will determine whether you can start planning a house party or whether you need to start looking for another home.

Experienced real estate agents should have sufficient knowledge of the real estate market in the area and they should be master negotiators. It is, after all, what they do every day.

Buyers should hire an agent that they trust and that they can communicate with. It is an investment that you make towards your future house. 

#2 - How to negotiate in a buyer's market

buyer's market means that there are more homes to sell than there are buyers. This means that the buyer has the advantage because there is more supply than there is demand.

A seller selling in these conditions might consider dropping his price by as much as 10% of the asking price.

Buyers can also try negotiating closing costs and the closing dates. There is nothing wrong with a healthy back and forth but be careful of lowball offers. The seller might be insulted and you can lose the offer altogether. 

#3 - How to negotiate in the seller's market

A seller's market, on the other hand, means that there are more sellers than homes to sell. Here the buyer is at a slight disadvantage because he or she has to compete against other eager buyers.

Unreasonable and complicated offers full of contingencies can result in immediate rejection from the seller. Unfortunately, this means that negotiating has to be limited.

It is possible to offer a lower price after home inspection but be aware that there are buyers that will make an offer without asking for an inspection. These buyers often act quickly. A real estate agent should advise you on the best route to take. 

#4 - Negotiating in a balanced market

A balanced market means that there is an equal amount of sellers and homes to sell. This does not mean that negotiating is easier. Home sellers take their time to work through offers and they go through several rounds of negotiation before making a decision.

This market displays a lack of urgency so the seller has time to choose the best offer. Buyers can still start with a lower offer and they can include certain contingencies. The negotiations might reach a cosy middle ground that is beneficial for both buyer and seller. 

There are many different things that you can negotiate when buying a house. It does not only include the asking price and the closing costs.

Your real estate should prove to be a valuable source in this regard.

Author ImmoAfrica.net
Published 02 Aug 2021 / Views -
Disclaimer:  While every effort will be made to ensure that the information contained within the Apple Property website is accurate and up to date, Apple Property makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.