buying your first home - what you should know

4 Tips To Help You Get A Better Deal On A Home

A home is a big purchase. As such, you really don't want to end up overpaying. Since sellers are more than happy to overprice a home or accept an offer for more than the home is really worth, you need to be savvy as a home buyer. Here are a few ways to get a better deal on your next home.

Work with a savvy real estate agent.

Do your homework when it comes time to choose a real estate agent. Look for someone who has been in the industry for a while and who has experience working as a buyer's agent, not just a seller's agent. Look at the homes they have bought recently. Have they had offers for less than the asking price accepted? If so, this is a sign that they are a keen negotiator and that they can help you get a better price, too.

Look for homes that have been on the market for a while.

Home buyers often assume that if a house has been on the market for more than a couple of weeks, there is something wrong with it. This is not always the case. Often, the home is just a niche property that may not be right for everyone, but it could be right for you. When a home has been on the market a while, the sellers are often desperate to sell so they are more likely to accept a low offer under the asking price.

Point out problems that came up in the inspection.

You should never buy a home without first having it inspected. But the point of the inspection is not just to ensure that the home is not falling down. You can use the things that come up in the inspection to negotiate the price. Are some of the doors hard to shut? Ask for $2,000 off the price so you can replace them. Is one of the gutters clogged? That's another $500 off so you can pay for gutter guards and for a professional cleaning.

Don't go too low.

If you offer the seller too little for the home, they may feel insulted and may respond with a firm "no." You want to offer a little less than you think they will actually accept so they come back with a counteroffer rather than refusing your offer completely.

For more information, contact a real estate agent near you.