Deal Or No Deal: How To Know What’s Negotiable When Home Shopping
Some home shoppers might be surprised to find out that the price of the home itself is not the only aspect of a home deal that's flexible. Sellers are often willing to bend and compromise in several areas if they are highly motivated. Read on for some ideas about real estate bargaining on more than just the purchase price.
Fixtures
The word fixture, when it comes to homes for sale, refers to those items in a home that are not considered furnishings but that may not be included in with the deal. While the exact legal definition of a fixture can vary from place to place, fixtures are usually those items you might see when you view the home but that may not necessarily be part of the purchase. Never assume that something is included—always ask the showing agent to confirm. If you have your heart set on a certain item and it is not technically included in the purchase, you may be able to buy it separately. Fixtures often make the room look better, but may not be an attached or integral part of a home. Take a look at this list of common fixtures:
- Chandeliers and other lighting fixtures.
- Window treatments, such as drapes, blinds, curtains, swags, shades, etc.
- Portable storage buildings, awnings, or carports.
- Pool tables that are difficult to move.
- Hot tubs, play sets, gazebos, etc.
- Appliances
Closing Costs
You will need to set aside a certain sum to cover closing costs. The dollar figure provided to you when you sign the purchase agreement is usually an estimate, and the closer you get to the closing date, the more accurate the amount you must have on hand will be. While the amount varies greatly, both buyers and sellers will usually need to have several thousand dollars on hand to close the deal. In most cases, closing costs can be paid by either the buyer or the seller, which sets up a perfect situation for negotiating. For example, if your seller is unable or unwilling to repair the roof before the closing, they may willing to pay some of your closing costs instead.
Furnishings
Most homes are sold as empty, but some pieces of furniture may not be that easy to move. If you really would like to have that large piece of workout equipment or the entertainment center, it might be negotiable. You might also come across a seller who wants to sell the home furnished but you are not interested in the furniture. For example, if you are purchasing a home in a resort area where homes are on the rental market, you might have no choice but to take the whole package. This is an area where negotiations are possible, however.
When an issue arises that is not set stone and can be negotiated with homes for sale, count on your real estate agent for help and advice.
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