If you are like most people, you have heard about the declining housing market over the past few years. There has been a lot of talk about how homes are too expensive for buyers or sellers who want to get into the market. But even as things continue to become worse for prospective homebuyers, there is still hope for those that are willing to take advantage of recent trends. Now, more than ever before, there has never been a better time to negotiate your home’s sale price with your agent or buyer with https://www.sandiahomebuyers.com/.
The Right Price
You must first understand that an agent’s commission represents only a portion of the amount that you pay in real estate transaction costs. There are other hidden factors that will affect the price of your home and it is important to know what they are as well.
For most people, the thought of getting whacked with a 20% or higher commission just doesn’t sit right with them. It is understandable, but you may be missing out on some significant profits if you don’t take advantage of opportunity now while the prices are low.
Why Getting a Lower Price is a Very Good Thing
There are many good reasons to get the price of your home lowered. The first and foremost is that you can save money. Real estate transaction costs can be quite high and if you shop around, you will find that there are cheaper options than what an agent will want to pay. The cost of things like title insurance, escrow, conveyance and closing fees can all add up quickly. Getting a lower price will allow you to handle these kinds of costs on your own. In addition, there is the opportunity to negotiate commissions with your agent.
Another distinct advantage to getting a lower price is that it can set you up for financial success later on down the road. For example, say that you have owned your home for over 10 years and are thinking of selling it. You paid $150,000 for your home right after it was built and now you plan on listing it for $300,000 in a few months. If you get a lower price now, however, you can list your home for as much as $275,000 or $280,000 and still have it sell for the same amount in the long run. That is an extra $25,000 to $30,000 to put towards your new home with no additional effort on your part.
