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Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure that you are getting the best possible deal for your money. So, what should you negotiate when buying an Inland Empire home?
What to Negotiate When Buying an Inland Empire House
Closing Costs
Your closing costs are determined by a variety of factors. But you can expect them to be between 2% to 6% of the purchase price, according to local Riverside County escrow company Parkfield Escrow. Ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.
Furnishings
Love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. And many sellers agree, wanting to make the home more appealing.
Inspection and Closing Timing
Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. Just ensure you allow yourself ample time to get your financing in place and complete proper, thorough inspections.
Home Warranty
Sellers will often agree to pay the premium on the home warranty at closing. Then, they hand it off to the new homeowner, who is responsible for the deductible on any future claims.
Repairs
Your inspection may uncover small or large repairs needed to bring the Inland Empire home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.
Keep in mind, however, that the more contingencies you place on a home’s sale, the more likely that the seller will refuse your offer and move on to another. This is especially true in a competitive seller’s market. Talk to your real estate agent to help you determine which negotiations are a “must” and which should be left off the table.
Muna Dionne, your Inland Empire specialist with Coldwell Banker Realty
