Whether you are buying your first home or looking to downsize after retirement, negotiation skills are crucial in getting what you want. Here are some tips for homebuyers trying to negotiate with sellers. It is always advisable for buyers to get preapproved, not just prequalified. Preapproved buyers have an edge over potential buyers who have only prequalified for a loan. Preapproval means the buyer has attained a conditional commitment in writing for an exact loan amount from a lender. This saves time and a quick closing may be appealing to a seller.
When viewing a potential home, it’s important to pay close attention to how it meets your needs. Location, school district, outdoor space, the number of bedrooms and bathrooms are all criteria that may be high on your must have list. Do not be deterred by cosmetic details that can easily be changed.