In much of American life, prices are fixed. What’s on the label or the menu is what we pay. But in real estate transactions, not only are prices negotiable, so is nearly everything else, too. That’s why it’s always worthwhile to make counteroffers, and to question the specifics of all the smaller details that surround buying and selling a home.
The most commonly negotiated matters are price, the amount of earnest money, the closing date, and which items will be conveyed with the sale, such as washer, dryer and refrigerator.
One very important matter for negotiation, which has a direct impact on the price, is how to address needed repairs after the home has been inspected. A seller can choose to repair everything on the inspector’s list; to repair nothing; to repair only some items; or to offer a credit to the buyer. Of course, the buyer will have to agree to the seller’s response. It’s worth remembering, however, that repairs usually cost less than the amount the sale price would likely be reduced.
But that’s not the whole list. Others things people often negotiate are:
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