Buying a home is one of the few occasions in which some form of negotiation is the rule rather than the exception. Just because it is the norm, however, does not mean that most people are good at it.
Here are a few tips to help you negotiate the best deal when buying your next Santa Cruz home:
1. Know your bottom line. Determine your bottom line and stick to it. This sometimes means you have to be willing to walk away from a deal. It also means being realistic about what you’re asking from the seller. Many sellers are faced with the fact that their home may not be worth what they paid for it. This puts limits on the concessions a seller can offer.
2. Stay flexible. For example, what if the Santa Cruz home you'd like to buy needs a new heating system. The seller is unwilling to replace the unit but is willing to put $3,000 toward your closing costs. The $3,000 you're saving in closing costs will cover the cost of a new heating system. If all you focus on is the seller replacing the heating system, you miss the chance to achieve your overall goal, which is purchasing a home without paying for a new heating system.
3. Find out how long the home has been for sale. If the home is newly listed, the seller is less likely to lower the price significantly or offer other concessions. However, if the home has been for sale for 12 months or longer, the homeowner is more motivated to sell, and you’re more likely to get a great deal.
4. Work with a pro. No one is better at knowing what sellers want and how to negotiate great real estate deals than professional real estate agents. Unless you are an experienced, savvy negotiator, leave it to the pros.
Thinking of buying a Santa Cruz home? I would be pleased to represent you in your next real estate purchase. You can reach me by phone at 831-662-6522 or send me an email Lauren@LaurenSpencer.com.
For more information, please visit my website at www.MySantaCruzRealEstate.com.