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%Start How To Negotiate A Home Purchase In A Seller’s Market Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans &amp; accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure <h3> Advertiser Disclosure </h3> We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.<br> Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
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%Start How To Negotiate A Home Purchase In A Seller’s Market Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure

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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
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Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Negotiating is a muscle most of us don’t exercise.
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Almost all transactions in our daily lives are straightforward; nobody’s haggling over a loaf of bread or an Uber ride. But when it comes to making the single (our homes), we’re expected to know what to do.
Oliver Taylor Member
access_time 51 minutes ago
Almost all transactions in our daily lives are straightforward; nobody’s haggling over a loaf of bread or an Uber ride. But when it comes to making the single (our homes), we’re expected to know what to do.
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Daniel Kumar 5 minutes ago
But that’s easier said than done. Buyers often make the same common mistakes in negotiating a home...
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But that’s easier said than done. Buyers often make the same common mistakes in negotiating a home sale, says David Greene, co-host of the BiggerPockets Real Estate Podcast.
Sebastian Silva Member
access_time 18 minutes ago
But that’s easier said than done. Buyers often make the same common mistakes in negotiating a home sale, says David Greene, co-host of the BiggerPockets Real Estate Podcast.
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Lucas Martinez 12 minutes ago
These false steps include focusing solely on the listing price and making the transaction one-sided....
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Elijah Patel 2 minutes ago
That said, negotiating is not always a viable tool. In a market where there are multiple bids on a s...
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These false steps include focusing solely on the listing price and making the transaction one-sided. By taking the emotion out of the transaction, out a deal that benefits everyone.
Madison Singh Member
access_time 38 minutes ago
These false steps include focusing solely on the listing price and making the transaction one-sided. By taking the emotion out of the transaction, out a deal that benefits everyone.
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Noah Davis 24 minutes ago
That said, negotiating is not always a viable tool. In a market where there are multiple bids on a s...
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Grace Liu 13 minutes ago
In this situation, the seller usually goes with the best offer. Here we’ll look at a couple of neg...
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That said, negotiating is not always a viable tool. In a market where there are multiple bids on a single home, the seller is less likely to make concessions since they’re holding a royal flush.
Hannah Kim Member
access_time 60 minutes ago
That said, negotiating is not always a viable tool. In a market where there are multiple bids on a single home, the seller is less likely to make concessions since they’re holding a royal flush.
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Ella Rodriguez 31 minutes ago
In this situation, the seller usually goes with the best offer. Here we’ll look at a couple of neg...
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Joseph Kim 59 minutes ago
The same driving forces that were present before the pandemic are still here: low inventory and high...
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In this situation, the seller usually goes with the best offer. Here we’ll look at a couple of negotiation strategies as well as when to walk away from a deal and when to stay. <h2>What today s market looks like</h2> The seems to be stuck in amber, caught before COVID-19 swept the world.
William Brown Member
access_time 105 minutes ago
In this situation, the seller usually goes with the best offer. Here we’ll look at a couple of negotiation strategies as well as when to walk away from a deal and when to stay.

What today s market looks like

The seems to be stuck in amber, caught before COVID-19 swept the world.
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Daniel Kumar 82 minutes ago
The same driving forces that were present before the pandemic are still here: low inventory and high...
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Ella Rodriguez 69 minutes ago
In other words, this is still a seller’s market but, since fewer buyers qualify for a mortgage, th...
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The same driving forces that were present before the pandemic are still here: low inventory and high prices. Fewer homes on the market mean one house in some areas can get multiple bids, giving sellers the advantage. What’s changed is that credit availability has shrunk, which affects the number of buyers on the market.
Ella Rodriguez Member
access_time 22 minutes ago
The same driving forces that were present before the pandemic are still here: low inventory and high prices. Fewer homes on the market mean one house in some areas can get multiple bids, giving sellers the advantage. What’s changed is that credit availability has shrunk, which affects the number of buyers on the market.
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Evelyn Zhang 12 minutes ago
In other words, this is still a seller’s market but, since fewer buyers qualify for a mortgage, th...
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Madison Singh 12 minutes ago
Not only is this because of low inventory, but many homeowners are waiting to sell until the economy...
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In other words, this is still a seller’s market but, since fewer buyers qualify for a mortgage, the competition might have waned a bit. Although home sales fell 21.8 percent in April, according to the National Association of Realtors, they have slowly picked up steam over the last five weeks, a positive sign for recovery. This has kept prices up at pre-pandemic levels in most of the country.
Grace Liu Member
access_time 69 minutes ago
In other words, this is still a seller’s market but, since fewer buyers qualify for a mortgage, the competition might have waned a bit. Although home sales fell 21.8 percent in April, according to the National Association of Realtors, they have slowly picked up steam over the last five weeks, a positive sign for recovery. This has kept prices up at pre-pandemic levels in most of the country.
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Not only is this because of low inventory, but many homeowners are waiting to sell until the economy stabilizes and the country reopens. Some experts forecast a rise in home prices in 2020. “Given the surprising resiliency of the housing market in the midst of the pandemic, the outlook for the remainder of the year has been upgraded for both home sales and prices, with home sales to decline by only 11 percent in 2020 with the median home price projected to increase by 4 percent,” said Lawrence Yun, NAR’s chief economist, in a statement.
Lucas Martinez Moderator
access_time 120 minutes ago
Not only is this because of low inventory, but many homeowners are waiting to sell until the economy stabilizes and the country reopens. Some experts forecast a rise in home prices in 2020. “Given the surprising resiliency of the housing market in the midst of the pandemic, the outlook for the remainder of the year has been upgraded for both home sales and prices, with home sales to decline by only 11 percent in 2020 with the median home price projected to increase by 4 percent,” said Lawrence Yun, NAR’s chief economist, in a statement.
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Amelia Singh 115 minutes ago
“In the prior forecast, sales were expected to fall by 15 percent and there was no increase in hom...
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Elijah Patel 118 minutes ago
For homes that have languished on the vine longer, the seller’s greed might turn into fear, Greene...
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“In the prior forecast, sales were expected to fall by 15 percent and there was no increase in home price.” There are instances, even in a seller’s market, where the buyer has room to play, here are a few things to look out for. <h2>How long has the house been on the market </h2> The longer a house has been listed, the better your chances of striking a deal. If it’s only been on the market for two weeks, sellers are expecting a clean, competitive offer.
Brandon Kumar Member
access_time 125 minutes ago
“In the prior forecast, sales were expected to fall by 15 percent and there was no increase in home price.” There are instances, even in a seller’s market, where the buyer has room to play, here are a few things to look out for.

How long has the house been on the market

The longer a house has been listed, the better your chances of striking a deal. If it’s only been on the market for two weeks, sellers are expecting a clean, competitive offer.
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Sebastian Silva 49 minutes ago
For homes that have languished on the vine longer, the seller’s greed might turn into fear, Greene...
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Joseph Kim 101 minutes ago
The general wisdom is to offer between 5 to 10 percent below asking. “If a house has been sitting ...
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For homes that have languished on the vine longer, the seller’s greed might turn into fear, Greene says. This is where having a knowledgeable real estate agent can be instrumental. They can advise you on the first offer to start negotiations.
Christopher Lee Member
access_time 104 minutes ago
For homes that have languished on the vine longer, the seller’s greed might turn into fear, Greene says. This is where having a knowledgeable real estate agent can be instrumental. They can advise you on the first offer to start negotiations.
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The general wisdom is to offer between 5 to 10 percent below asking. “If a house has been sitting on the market for weeks or months, it gets a stink. At that point, your lower-than-asking-price offer will feel like a victory for them,” Greene says.
Zoe Mueller Member
access_time 135 minutes ago
The general wisdom is to offer between 5 to 10 percent below asking. “If a house has been sitting on the market for weeks or months, it gets a stink. At that point, your lower-than-asking-price offer will feel like a victory for them,” Greene says.
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Lucas Martinez 73 minutes ago
Some buyers will only look at older listings, to give them more negotiating power.

Look at the a...

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Some buyers will only look at older listings, to give them more negotiating power. <h2>Look at the after-repair value of the home</h2> One way to score a deal in this market is to shop around for fixer-uppers, says Lloyd Segal, president of the Los Angeles Real Estate Investors Club. If you plan on repairing the home, you should consider the after-repair value (ARV) by looking at similar homes in the area that are in good shape.
David Cohen Member
access_time 28 minutes ago
Some buyers will only look at older listings, to give them more negotiating power.

Look at the after-repair value of the home

One way to score a deal in this market is to shop around for fixer-uppers, says Lloyd Segal, president of the Los Angeles Real Estate Investors Club. If you plan on repairing the home, you should consider the after-repair value (ARV) by looking at similar homes in the area that are in good shape.
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“For investors, you have to buy 65 percent less than the ARV because you have to renovate the hous...
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“For investors, you have to buy 65 percent less than the ARV because you have to renovate the house, pay realtors, escrow, and interest on the loan,” Segal says. However, in this market, the ARV is a moving target.
Aria Nguyen Member
access_time 116 minutes ago
“For investors, you have to buy 65 percent less than the ARV because you have to renovate the house, pay realtors, escrow, and interest on the loan,” Segal says. However, in this market, the ARV is a moving target.
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Elijah Patel 73 minutes ago
Although many experts predict a strong rebound, Segal points out that historically home prices have ...
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Find out what the seller wants

A vital aspect of negotiating is understanding what the sell...
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Although many experts predict a strong rebound, Segal points out that historically home prices have dropped after massive health-related threats. “Stand back and wait until the dust settles. If you look at how the market plays out after every pandemic — SARS, Ebola, there’s always a dip in market prices of homes within months,” Segal says.
Ethan Thomas Member
access_time 150 minutes ago
Although many experts predict a strong rebound, Segal points out that historically home prices have dropped after massive health-related threats. “Stand back and wait until the dust settles. If you look at how the market plays out after every pandemic — SARS, Ebola, there’s always a dip in market prices of homes within months,” Segal says.
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Sofia Garcia 116 minutes ago

Find out what the seller wants

A vital aspect of negotiating is understanding what the sell...
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Sebastian Silva 49 minutes ago
One tactic is to let the seller do the talking. “Buyers usually ask ‘how do I make sellers give ...
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<h2>Find out what the seller wants</h2> A vital aspect of negotiating is understanding what the seller wants. It’s key for buyers to get out of their heads and learn what the sellers’ needs are; this can provide helpful information for negotiating.
Mason Rodriguez Member
access_time 93 minutes ago

Find out what the seller wants

A vital aspect of negotiating is understanding what the seller wants. It’s key for buyers to get out of their heads and learn what the sellers’ needs are; this can provide helpful information for negotiating.
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James Smith 42 minutes ago
One tactic is to let the seller do the talking. “Buyers usually ask ‘how do I make sellers give ...
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One tactic is to let the seller do the talking. “Buyers usually ask ‘how do I make sellers give me what I want?’ Instead you need to listen to what they’re saying. And the secret is to give them something they want — that doesn’t matter to you — to get something that does,” Greene says.
Hannah Kim Member
access_time 64 minutes ago
One tactic is to let the seller do the talking. “Buyers usually ask ‘how do I make sellers give me what I want?’ Instead you need to listen to what they’re saying. And the secret is to give them something they want — that doesn’t matter to you — to get something that does,” Greene says.
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One example of this is agreeing to rent the seller the house for 30 days after purchase, so they have time to look for a house, in exchange for a discounted price. <h2>Don t let your ego get in the way of your dream home</h2> In a tight market like this one, knowing exactly (not necessarily what the asking price is) is crucial.
Henry Schmidt Member
access_time 33 minutes ago
One example of this is agreeing to rent the seller the house for 30 days after purchase, so they have time to look for a house, in exchange for a discounted price.

Don t let your ego get in the way of your dream home

In a tight market like this one, knowing exactly (not necessarily what the asking price is) is crucial.
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James Smith 8 minutes ago
Often buyers get caught up in the numbers without thinking about the value of a home. This is especi...
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Mia Anderson 29 minutes ago
Greene advises buyers to think about the absolute maximum amount they would be willing to spend with...
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Often buyers get caught up in the numbers without thinking about the value of a home. This is especially true in bidding wars.
Dylan Patel Member
access_time 136 minutes ago
Often buyers get caught up in the numbers without thinking about the value of a home. This is especially true in bidding wars.
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Isaac Schmidt 38 minutes ago
Greene advises buyers to think about the absolute maximum amount they would be willing to spend with...
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Scarlett Brown 99 minutes ago
In this scenario, the person who wants the house the most gets it,” Greene says. Ask yourself if y...
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Greene advises buyers to think about the absolute maximum amount they would be willing to spend without regretting the purchase. “The truth is agents are successful about 20 percent of the time when there are multiple offers.
Oliver Taylor Member
access_time 175 minutes ago
Greene advises buyers to think about the absolute maximum amount they would be willing to spend without regretting the purchase. “The truth is agents are successful about 20 percent of the time when there are multiple offers.
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In this scenario, the person who wants the house the most gets it,” Greene says. Ask yourself if you would feel good about losing a house that goes for $5,000 over asking price. What about $10,000?
Amelia Singh Moderator
access_time 180 minutes ago
In this scenario, the person who wants the house the most gets it,” Greene says. Ask yourself if you would feel good about losing a house that goes for $5,000 over asking price. What about $10,000?
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Grace Liu 103 minutes ago
Keep going down that path until you get to the number that no longer makes sense, that’s when you ...
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Ava White 167 minutes ago
They know the market well, so they can advise you on inventory, home prices, and what you can expect...
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Keep going down that path until you get to the number that no longer makes sense, that’s when you know how much the house is worth to you. In all of these situations, a good real estate agent can be your best friend.
Daniel Kumar Member
access_time 148 minutes ago
Keep going down that path until you get to the number that no longer makes sense, that’s when you know how much the house is worth to you. In all of these situations, a good real estate agent can be your best friend.
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They know the market well, so they can advise you on inventory, home prices, and what you can expect in terms of best offers. Let them know what your goals are, how long you plan on staying in the home, and what features are important to you. By homing in on what you want, your agent can help navigate you toward a house that ticks the important boxes.
Amelia Singh Moderator
access_time 38 minutes ago
They know the market well, so they can advise you on inventory, home prices, and what you can expect in terms of best offers. Let them know what your goals are, how long you plan on staying in the home, and what features are important to you. By homing in on what you want, your agent can help navigate you toward a house that ticks the important boxes.
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Featured image by FG Trade of Getty Images. <h3>Learn more </h3> SHARE: Natalie Campisi is a former mortgage reporter at Bankrate.
Ryan Garcia Member
access_time 156 minutes ago
Featured image by FG Trade of Getty Images.

Learn more

SHARE: Natalie Campisi is a former mortgage reporter at Bankrate.
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Jack Thompson 156 minutes ago

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