Negotiating the Offer and Contract on Your New Homeby Kelly Richardson
Loan Page Columnist
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Negotiating an offer for a home is not something most people do everyday. There are many intricacies that determine how much you'll pay for a new home. Following these simple steps can help you negotiate a better price and borrow less for your mortgage.
Tips for Negotiating an Offer on a New HomeIf you're not the best negotiator in the world, don't feel alone. Negotiating an offer for a home requires some knowledge and experience. But there are some simple things you can keep in mind when negotiating that will help you in the long run. After all, the less you have to pay, the smaller your new home loan and mortgage payments will be.
Especially if you're not using an agent to buy your new home, you'll want to know about these negotiation techniques and strategies to keep the price (and your home loan) low.
Tips for Negotiating a ClosingOnce your offer on your new home is accepted, the next negotiation task is the closing. During a closing, you are mainly negotiating who pays what fees beyond your mortgage. While it sounds small, closing costs can add up significantly. Here are the details on closing.
The art of negotiation takes a little bit of practice and knowledge of the various factors of the deal. When in doubt, ask your real estate representative.
About the Author
Kelly Richardson covers the local education and technology scenes in major cities across the country. His articles appear in educational journals, periodicals, and e-zines.
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