Negotiating the terms of a home purchase can be intimidating. A home is one of the largest purchases you'll ever make, so these high-stakes situations can feel stressful, and walking away with the terms you want is important for your future financial success. Luckily, a good real estate agent is more than capable of guiding you through the process. If you're closing on a home, here are some negotiation tips directly from our real estate agents:

1. Understand The Seller's Motivation
   Some sellers are more eager to sell than others, and understanding your seller's unique situation can help you know how much leverage you have in the negotiation process. If the seller's agent is acting with a sense of urgency or indicates a need to move quickly, chances are your seller is looking to get a deal done quickly and, as a result, may be more willing to concede.
   
   
2. Evaluate Your Local Market
   The current state of your local real estate market can be a good indicator as to whether you have leverage as a buyer. If the inventory is limited and there is significant demand, you may not have a ton of room to negotiate. However, if there are plenty of Cleveland homes for sale and the market is slow, then you likely can ask for more.
   
   
3. Check How Long The Home Has Been Listed
   If the property has been sitting on the market for more than 30 days, then you're in a much better position to make your demands. When listings sit on the market for a long time, buyers tend to develop a negative perception of the property, which can often result in price decreases and a higher urgency to sell.
   
   
4. Don't Be Afraid To Ask For A Seller Assist
   If you're struggling to come to terms on the sale price, a seller assist can be a valuable negotiation tool, especially for first-time buyers. In exchange for a higher sale price, request that the seller cover some or all of the closing costs upfront. 
   
   
5. Define Your Limits
   Prior to any negotiations, you need to be clear on how much you're willing to concede before walking away. Know your maximum budget and establish which contingencies you can live without. Then make sure to sure this information with your real estate agent.

The most important thing to remember is you don't have to go through negotiations alone. Contact us today for questions on how to navigate the closing process.