| Negotiating is a huge part of buying a home because it | | | | some research in before hand so you know what you |
| will save you a lot of money. Not just the initial amount | | | | need to do to get the price you want. |
| of the home but also in interest payments. You will pay | | | | 2. You can look online in your county's registry of |
| more over all and more in your monthly mortgage | | | | deeds to see what every home was bought for, |
| payment. | | | | when it was bought and how much the buyer |
| Use a mortgage calculator to see what your monthly | | | | financed. This is very important information because if |
| payment would be for the home you would like to buy. | | | | the seller owes $180,000 on that home then they wont |
| Then use the calculator again to see how much it | | | | be as willing to negotiate as if they only owe $120,000. |
| would save you per month if the home costs you | | | | This information shouldn't cost you any money at all |
| $5,000 less. If it's listed on the real estate market for | | | | because it's all public information. |
| $199,000 then how much should you offer? And Why? | | | | When you're trying to figure out what you can afford |
| Well there many different factors that come into play | | | | for a monthly payment you should be using a free |
| with that question. | | | | mortgage calculator. They are online and easy to find. |
| 1. Ask your real estate agent if any homes or condos | | | | Websites allow you to use them for free because |
| similar to that one sold recently. That way you have a | | | | they probably have another way of making money on |
| good idea of what everyone else has paid and you | | | | their site and just want the visitor traffic. Use the |
| can match your home up to theirs to find a fair price. | | | | calculator multiple times for each situation because |
| Don't start at that price though! If you want that | | | | they are all different. Find the best mortgage option for |
| $199,000 home for $190,000 then you have to offer | | | | you and try to get approved with the bank. Make sure |
| lower than that because the seller will come back with | | | | to try and negotiate your interest rate as well! |
| a counter offer. Just like buying a car you need to put | | | | |