Negotiating the price when you are buying a home is the first of several negotiations in the process. Negotiating price involves an initial offer, a counteroffer, and often a counter to the counter. Beyond that, once mutual acceptance has been reached, there will be inspections of the septic, the water systems, and the home itself. Issues raised during any of the inspections will typically result in a request for repairs or credits. This kind of response often results in a counteroffer on the conditions of repair or credits.
During this process of dealing with inspections, there will normally be an expert well/water inspector, an expert septic inspector, an expert home inspector, and if there are negotiations for repairs or credits, there may be additional third-party inspectors to get accurate and unbiased estimates.
How you and your Realtor handle these issues in the ongoing negotiations will result in final mutual acceptance and closing, or the parties will get frustrated and someone will issue a notice of termination. The professionalism and experience of the Realtors on both sides are the major factor during this phase.
If you are buying your home (or land) in Sequim or Port Angeles, I strongly urge you to hire your own Buyer’s Agent, because negotiating to buy your home can involve several phases of negotiations, and the successful negotiation will involve knowledge of the specific real estate issues, an understanding of how to negotiate complex conflicts, and a keen ability to draft unambiguous language that will get you to the closing table.
Chuck Marunde is a Buyer’s Agent and can be reached at chuckmarunde@gmail.com or by phone at 360-775-5424.
Last Updated on August 2, 2022 by Chuck Marunde
This golden info will help swing the momentum of the sell into the buyer’s direction.
It is amazing to me how many buyers do not realize that buyers agents are free. Not only are we free but we also play a very important role in the home buying process. When a buyers agent is not used, the seller gets away with murder.
This is good information Charles. Buyers that go it alone usually get taken advantage of by Sellers and their agents. Most buyers don’t realize that they can have an agent go to work for them and the Buyers agents commission is almost always paid by the Sellers agent. It makes no sense to go unrepresented.