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Mistakes you make during homebuying can cost you big money. Here are four blunders to avoid.

Thinking that your previous negotiating experience applies to . Sure, some general strategies relate to all negotiations. But just because you know how to navigate a car purchase doesn’t mean you can expertly handle all the variables of a real estate deal.

Not supporting your position with facts and figures. Which approach do you think works better when offering a substantially less than he’s asking:

  1. Telling him you just don’t think the home is worth that much?
  2. Providing recent, comparable sales prices in the neighborhood; showing the seller -per-square-foot comparisons; and giving him estimates for needed repairs to the home?

(By the way, a Texas ® can you with all the tasks in the second bullet.)

Accepting the seller’s asking price as a reasonable starting point. Maybe it is … maybe it isn’t. If the seller relied on a website that provides estimates of home values, his asking price may be 20% higher than value.

Focusing only on price. You can for furnishings and appliances to be included in the . You can ask the seller to make certain repairs. You can even request the seller pay some of your closing costs. And negotiating a convenient closing date can save you money and hassles … not having to move twice, for example.

There’s much more to successful real estate negotiations than can be covered in a blog post. To make sure you’re not losing thousands of dollars, hire a Texas REALTOR® to represent you.


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