Essential Things You Must Negotiate When Buying Property for the First Time


If you are buying a home for the first time, you will probably assume the real estate agent or the realtor will definitely do the dirty work of negotiation with you. While this may be true, you can take up the DIY approach by contacting the owner directly in order to make sure; you don’t miss a single opportunity of bargaining regarding what exactly you are looking for. It might entail closing the cost covers, entire house repaint, and an extended shifting date. The worst thing an owner can do is disagree to it, and you won’t even come to know about it if you don’t ask.

One of the biggest mistakes young homebuyers do is to make an assumption that their realtor will be creatively and proactively negotiate on their behalf. Thus, there are certain things that you must keep in your mind while negotiating when you decide to purchase a new home.

Percentile of the closing cost that needs to be paid

As a first time buyer, one primary thing you will be able to successfully negotiate is the closing cost. It is because closing costs quite frequently catch up the first time buyers off guard, as they do not realize that they need extra cash in order to complete the transaction. If you hire a real estate agent in Newtown for buying the property, you may have the ability to pick up all or some of the closing costs. This will fill your pocket with extra cash, which you can use for the renovation purpose.

A premium of the home warranty for the least of 1 year along with the repairs associated with the inspections

You must always ask for the home warranty. It is quite common for the seller to pay a certain sum upfront. However, the sellers mainly pay the premium amount at the time of closing. Subsequent to this, the new owner of the home becomes accountable for the deductions with claims.

Although a homeowner’s warranty covers the repairing of main items such as air and heating systems, appliances, plumbing, a full home inspection will make it feasible for you to save money in the future as well. Besides, you can opt for hiring a real estate agency in Newtown to know the right details about the property.

Therefore, these are some of the significant aspects that you need to negotiate when buying a property for the first time. Also, for better assistance on property selection, you can consider hiring a certified real estate advisor near your area.



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