Negotiation Tips for Buyers: Getting the Best Deal
This year, about one-fifth of Canadian real estate markets are expected to favor buyers. Despite this, buying a new home can still feel daunting for first-timers. Here are some negotiation tips to help you get the best deal:
- Get Pre-Approved for a Mortgage
- Understand your price range.
- Show sellers you're a serious buyer.
- Establish a Realistic Budget
- Consider all costs: down payment, legal expenses, closing costs.
- Add up to 7% to your down payment for extra charges.
- Research Your Local Market
- Decide if you want to stay in your community or move.
- Work with a real estate agent to get an idea of local housing prices.
- Request a Home Inspection
- Use the inspection report to identify potential issues.
- Negotiate a lower price based on the inspection findings.
- Patience is Key
- Don't rush into buying the first home you see.
- Submit a bid, negotiate, and make a well-informed decision.
- Start with a Strong Offer
- Make a competitive first offer within your budget.
- Avoid bidding wars by making a reasonable offer initially.
- Flexibility on Closing Dates is Key
- Be flexible with the closing date to maintain a good relationship with the seller.
- Adjust to the seller's needs, whether they need to close quickly or delay.
- Be Personable
- Introduce yourself to the seller via email or letter.
- Create a connection and present yourself as more than just a bidder.
- Help Wanted
- Work with a real estate agent for professional guidance.
- Balance negotiation and finding the best property with their help.
Contact Fardad Farhanian today:
- Call or Text: (416) 707-1031
- Email: [email protected]
- WhatsApp: (416) 707-1031
- Website: www.realtyman.ca
- LinkedIn: Fardad F.
- Yelp: Fardad Farhanian
- Instagram: realtyman.ca
- YouTube: FardadFarhanianRealtyMan
- Pinterest: FardadFarhanianRealtyMan
- Facebook: FardadFarhanian
Looking for North York property, call Fardad today
