No matter how many homes you have purchased in your lifetime, the one thing that all think about when it comes time to negotiate is wiggling that price down as much as possible. And price IS important, but it certainly isn't the only negotiable part of the sale. There are other ways to "haggle".
The overall inventory of homes for sale in the Las Vegas Valley is relatively low, so some Sellers are receiving multiple offers right now (ie GREAT time to sell). Even when the market is favorable to sellers, there are opportunities for buyers as well. Ultimately, the transaction can be a "win-win" for both parties.
All home buyers should have a home inspection to verify the condition of the systems of the home (heating/cooling, electrical, plumbing, the roof, etc). As a Buyer, you can ask that defective items be repaired or replaced. It's not guaranteed that the Seller will agree, but hopefully an agreement on this can be reached. Regardless, it's important to know exactly WHAT you are buying (or not buying).
The closing schedule is often important to one party or the other. If you can be flexible and work with the timeline that is important to the other party, that can be a valuable point of negotiation.
Closing costs are another item that may be negotiated. Sometimes rather than playing "hard ball" on the sale price, you may be better off working part of the closing costs into the deal to reduce the "cash to close" needed. Considering today's low interest rates, it can be far more valuable to the Buyer to have $7000 in assistance with their closing costs rather than $14,000 off of the price (and much more attractive to the Seller as it is far friendlier to their bottom line.)
Furniture and decorative items can often be negotiable. Maybe you love the couch that fits perfectly in the family room, and maybe the Seller is trying to figure out what to do with it because it won't fit in the home they are moving to, doesn't hurt to ask!
There are many ways to approach the negotiation process and one size does NOT fit all. I had one Buyer ask me if they could ask for the Seller's dog in the offer. I told them they might be getting me thrown out of the Seller's house for asking, but it certainly wasn't "illegal". So, into the offer it went. It turned out that the Seller was moving somewhere they were not allowed to have the large dog, and they were happy for the dog to stay with the home and have a new loving family to care for him. Everyone was happy, even the dog. Win-win!
If you have questions about selling your home, or purchasing a home, in the current real estate market, please call or email me today. Our office is open 7 days a week for your convenience, and I'm looking forward to assisting you with all of your real estate needs!Laura Harbison
Realty Executives Southern Nevada Properties