Los Angeles, California (PressExposure) April 17, 2009 -- While buying a home can be a stressful process, it can also provide you great sense of achievement and satisfaction. Here is some helpful advice for you to consider when trying to get the best deal.
Vacant Properties are a great way to get good deals. Properties that are vacant do not have anyone living in them and are not making any money for the seller. Often, sellers are very willing to enter negotiations to get these properties off their books. This can be a great negotiation point for you, the buyer.
Do not underestimate the value of a fixer upper! While it may not be the most attractive house on the block today, it very well may be tomorrow. New carpets, a coat of paint and landscaping can turn a seemingly dilapidated old shack into a sparkling new home. Try not to get distracted by things that are easily fixed. If the home has no structural issues and matches your needs, consider the potential when making your decision. Often, homes that are not initially aesthetically pleasing, will turn out to be the customized home of your dreams!
Get an accurate idea of how many homes in the area you are considering, truly match your needs. Having a solid idea of this number will help you determine your negotiating power. The more homes there are that match your needs, the greater your ability to negotiate. Your agent can help you find this information.
Survey the area's schools. Just because you do not have children now does not mean that you will not in the future or that you should not consider the schools. Schools can be a great negotiating tool, as well. Good schools are an indication of property value that is underlying and potentially long-lasting. Not-so-good schools in the area can give you another bargaining chip when entering negotiations with the seller.
Have a flexible touring schedule. Often, and especially in this market, sellers rent their properties while they are trying to sell them. This means that there may be tenants living in the property, or perhaps there is no lockbox and tours may be on an appointment basis only. While this may seem burdensome, consider this. A home that is not often viewed, is not often made an offer on. As a result, your offer may be taken more seriously. Minimally shown homes do not pull in offers the way open houses do, so the seller may be more willing to entertain and negotiate your terms.
A common point of contention between buyers and sellers is the closing date. Buyers are often eager and want to close as soon as possible to meet their own personal deadlines, be it the opening of school or beginning of summer or recently after a wedding. Sellers are often eager for many of the same reasons as well. However, it would be beneficial to the Buyer to determine the Seller's deadline when making the offer. This way, the seller may be more likely to accept the offer. Using this advice and help from the right agent, you're sure to get the best deal possible!