The contents of this article were contributed by Yanie Johan, co-founder of IQI iRealty.
Did you know you could get more, more, more stuff in your new home?
All you have to do is ask!
However, of course, we understand that it’s easier said than done. One wrong sentence may lead to misunderstandings and disappointment! So tread lightly.
In this article, IQI iRealty Group Principal, Co-Founder and Team Manager Yanie Johan gives you 5 tips on how to negotiate with homeowners before you receive the keys to your new place.
5 Ways to Negotiate with Homeowner
5 Things to Ask For When Negotiating with Homeowner
1. Price
Many people may not know that we buyers can negotiate the price. If you want your dream home, you’d definitely want the best price for it!
In order to do this effectively, you have to do some research on the house’s market price or value.
I mean, it’s a long-term investment – an important asset. We wouldn’t just want to throw our money without making some ‘calculated’ decisions, won’t we? (Pun not intended)
Try to negotiate with your homeowner to get the best price. If you do it right, you’d be able to save some money that you can use to buy furniture instead (more on that later!).
2. Deposit
Deposits are a no-brainer. What if the buyer suddenly bails, right?
However, some homeowners fear this so much that they’ve marked up the deposit up to 10%!
And that’s not including the other fees that are going to come along.
One of the things you may want to negotiate with the homeowner is the deposit of the house. You might just be able to save big-time there.
3. Early access to the home
Okay, you’ve got your papers done, you’ve settled all the papers – now it’s time to move in! Or is it…?
If you’re looking into making any renovations, perhaps you want to move your furniture in ahead of time, or maybe you need to leave your current home quickly, it’s worth asking the owner if you could move in earlier.
If there’s still a long way to go before you get to move in, you can negotiate with the owner to move in early!
4. Request for Repairs
Before moving in to your new place to call home, you’d want to make sure everything is in tip-top shape.
You wouldn’t want to move in uncomfortable or unhappy, would you? Check your home and see if there’s anything that needs to be repaired.
You can ask the homeowner to double check as well, and they might just get it fixed before you move in!
Then you can enter your new home in peace and comfort, without worrying about any existing damage.
5. Ask to Gift Existing Furnishings
You’ve negotiated the price, move-in date and renovations and repairs. What else can be negotiated?
You can also negotiate with the owner to gift you the existing household items!
Perhaps there’s some existing home items include furniture such as sofas, dining tables, kitchen cabinets, curtains, kitchen appliances and so on.
But do ask politely – the owner will give you with discretion. You might just be lucky enough to score a generous owner! Remember, you won’t lose anything from asking.
Should you negotiate with the homeowner or a real estate agent?
First of all, why do you think it’s better to negotiate with the home owner than a real estate agent before buying a house?
You might think that it’s cheaper if you negotiate with the owner yourself. However, not many home owners who want to deal directly with buyers out of a desire to protect privacy and fear of loss.
Sometimes buyers want to buy a house at a low price that doesn’t make sense. The owner is also worried that the buyer just wants to play around and doesn’t want to waste time.
So, the owner would prefer that you deal directly through a real estate agent to buy a house. Because real estate agents better understand the house price that fits your budget.
From there, the real estate agent will ensure a “win-win situation” between both the buyer and the home owner so that both parties will not lose.
However, if you want to negotiate directly with the owner, make sure you have a friendly real estate agent!
There are actually benefits if you negotiate through a real estate agent.
They’re more knowledgeable about property prices, the owner’s situation, and also how to persuade the owner to get the price of the house you want.
So, if you want to buy a house, be sure to deal through a real estate agent you trust!
The contents of this article were contributed by Yanie Johan.
Yanie Johan is the co-founder of IQI iRealty with 10 years of experience in real estate. She is a recipient of several awards for outstanding performance in team performer and group awards.
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