Remember, everything you ask from a seller is a concession in their mind. Whether you’re asking them to lower the price, make a decorating allowance or contribute to your closing costs, they are primarily interested in the bottom line dollar proceeds at closing. Here are a few things to keep in mind:
Negotiations can be tough if you try to get the seller to both lower the price and also make other concessions or contributions to your closing costs too. Depending on the situation, it can hurt your ability to come to an agreement. The key is to understand what the other party’s priorities are and see if you can help them achieve those things while also achieving yours.
Appraisers are now asked to consider the dollar value of any seller concessions when they determine the value of the home you are purchasing.
Lenders will limit the contributions made by the seller without lowering your loan amount. It is important for you to ask your lender what they will allow the seller to pay.
If you’d like to learn more about the home-buying process and how to get the home of your dreams at a price you can afford please contact us (808) 739-4174 | www.choicehomeshawaii.com.