When you’ve finally found the house you’ve been looking for – it’s time to negotiate!
 
Do not be afraid to haggle! As the potential home buyer, it’s in your best interest to get it for the best price.

You might be worrying that other people will beat you to it, or maybe you’re trying to impress the real estate agent that you’re keen and ready to buy, but it’s important to put those worries aside and get the best deal.
 
Buying a home is similar to buying a car. You shop around. Check for rust, dents, scratches, leaks. The salesman/owner is obviously trying to convince you to buy, telling you how great the car is.
 
If you’re a negotiator, you’ll point out the flaws and make an offer below the asking price, looking for a reaction. After a bit of to and fro, it’s SOLD and you’re off with your new car at a better price.
 
Why should a house worth much more be any different?

Negotiating tips
  • Learn more about the property before making an offer – ask questions. It’s the real estate agent’s job to know all the answers. You can refer to ‘5 questions to ask a real estate agent
  • Haggle - negotiate with confidence, ask to see a copy of the certificate of title so you know about the block size and any easements or encumbrances
  • Compare the property to others in the market
  • Find out the sellers’ motivations as this could give you an advantage
  • Try to hold in your enthusiasm as the agent could use that to their advantage
  • You could try making an offer 10-15% below the asking price. The agent is obliged to take any offers to their client and get back to you with a response.
 
So, once you’re ready to make an offer, think about your strategy before you dive right in!