Stylish house

22 Nov How To Negotiate House Prices To Save You Thousands

Our Top Tips On How To Negotiate House Prices!

So you’ve finally reached the personal milestone of buying your own home. You may be on your own or you’re with a partner. Regardless, you’re super psyched as you set out to find the home of your dreams. Then there it is and it’s everything you’ve imagined — from its perfect proximity to the beach down to the size of the kitchen, and the perfect windows that let all that glorious light in… But the price isn’t exactly what you had in mind. In fact, it’s worth a few thousand of dollars more than what you are ready to spend. Before you begin to negotiate house prices, keep these tips in mind:

negotiate house prices - one

Research comparable sales

Knowledge is power. The old adage rings true when buying property. Meet your agent armed with information about the property prices and demand in the area. Agents are more likely to be honest and upfront with you regarding sales history and performance when they know that you know what you’re talking about.

negotiate house prices - two

Know your agent’s rules

How does your agent operate? Is he in talks with other buyers? Will he call the vendor right away? What’s his strategy in handling the offer and counter offer? The point is to know if you are confident with how he plans to negotiate before going into the battlefield. This way, there won’t be a lot of surprises and you will know which of your cards will be played.

negotiate house prices - three

Know the vendor

Whether or not you will be using an agent, knowing why the vendor is selling will help you present a better case and know how to negotiate the contract.

negotiate house prices - four

Negotiate the contract

It’s not just the property price that you can negotiate but auction contract terms,as well. Though there is no cooling-off period after an auction, contact terms such as deposit amount, settlement length, fixtures, circumstances surrounding current tenants among others, can still be negotiated.

Should the seller agree to the changes proposed by the buyer and that particular buyer becomes the successful bidder, the vendor will inform the real estate agent of the amendments agreed upon which will be applied to the contract before it is signed.

negotiate house prices - five

Learn the law about buyer negotiations

In an auction, if one buyer manages to negotiate changes in the contract, these changes must be made available to everyone else. It’s a pretty basic law that aims to level and keep the competition fair, however it’s still best to check if it applies to your state.

negotiate house prices - six

Bid high

That is if you find the right property. If you find the property that meets all of your qualifications and you’re serious about acquiring it, get rid of all the bargain hunters quickly by bidding high at the beginning of the auction. This shows confidence and communicates how serious you are.

negotiate house prices - seven

Pre-approve your finances

If you are buying in an auction or planning to waive the cooling off period, the you are pretty much required to get your finances pre-approved. This also safeguards you and your deposit in the event that you need to back out of the contract due to legal reasons like if the seller did not comply to vendor disclosure statement requirements.

negotiate house prices - eight

Know when to walk away

Selling your property can be a quite emotional experience to some and their attachment to the property exaggerates its price. Likewise, buying a property can be equally sentimental –you might be tempted to give in even when the price is above what you can really afford just because the property in question defines the home of your dreams. Be rational when assessing the value of the property. Keep an open mind that there will be other properties that will suit you needs.



Race over to the website to check out more of what drives us!

Thanks to all our Sponsors

Loan Repayment Calculator

Calculate your repayments

Get a better understanding of your repayments and find the best loan for your financial needs. Structure your calculation on your loan amount, interest rate, term, and balloon payments. Make adjustments to match your budget.

Free eBook Great Outback Adventure

Free eBook

Spring is in the air and what better time to pack up the caravan (or car or VW Bus) and hit the dusty trails? Our latest eBook ‘A great outback adventure’ explores everything you need to prepare for the Outback Caravan Adventure of your dreams.

Stay In Touch

Stay in Touch

Want to keep up-to-date with Finance EZI’s news, blog posts, and offers? Sign up to the Finance EZI eNewsletter to receive Exclusive Offers each month! You can also join our Facebook community for weekly tips, blogs, and finance news.

Why Choose Finance Ezi?

Fast Approval

Fast Approval

Kick start your financial freedom with fast approval rates. Speedy approvals and customised financial repayments are our specialty. Apply for a loan or a quick quote today.

Competitive Rates

Competitive Rates

We pride ourselves on our competitive rates on finance for cars, trucks, recreational vehicles, caravans, business loans, home loans, and more. At Finance EZI, we finance almost anything.

Trusted Lenders

Trusted Lenders

We’ve been helping people like you achieve their dreams for over 10 years. With an expansive network of business partners, we’re able to secure the best finance deals for your needs.

Talk To Real People

Talk to a Real Person

We know how complicated loan applications are, so we make it our business to support you throughout the entire process. Give us a call to speak to a member of our professional team today.

Featured Product Motorcycle Finance

What our clients say…

we make finance ezi. Call us toll-free on 1300 003 003 or apply online…