Buying a home is an important decision that you need to take after a thorough negotiations and consideration of different aspects. In order to buy the best home at the best price, you should rely on the home inspection report. This is a powerful bargaining tool that will help you to know about the strengths and weaknesses of the house and make your quote, and stick to it. This report will also let you stop negotiating and walk away from a deal if things do not turn out in your favor. Ideally, you should buy a house that will not need any extensive repairs on it after purchase.
Time to walk away
If you follow this guide you will know the time wen you should draw a line and end the negotiation process with the seller. Yes, a deal cannot be salvaged always even after putting your best efforts into it. there may also be some times when the seller will not give you even an inch on your requests for repairs. This means that you will need a lot of surplus cash to make the repairs. If you do not then you will not be able to pull the trigger and should walk away from the deal. On the other hand, if the cost of repairs is estimated to cross 1 to 4% of the value of the house, it is good to look for a different house.
Time to stop negotiating
You may be nice enough a person not to put too many demands and pressure on the seller but still you may have to stop negotiating at times. There may be just a couple of things included in your wish list presented to the seller. However, make sure that once you present this list and the seller agrees on it, do not try to pile on more demands in it afterwards. Therefore, when you feel that the big-ticket items are resolved and settled, you should stop negotiating.
Take away the stress
It can be really stressful to negotiate after a home inspection. However, with the right process followed, you will be able to bring the seller down to your level. However, you should always remember not to harass the seller with too many repairs. Remember, your ultimate goal should be in getting the house in the best condition possible and not to ‘win’ on every aspect of the transaction.