How to Negotiating with House Seller

Negotiating - a word that strikes fear into the hearts of most homebuyers.

Tip #1 - Be Realistic
When entering a negotiation with a Home Seller, you need to be Realistic. If the house you are looking to purchase has 6 bids already, your chances of getting thousands of dollars slashed from the price are slim. Negotiating in these cases may prove to simply be a waste of your valuable time.

Tip #2 - NEVER Show Your Cards
When you walk into the home of your dreams, don't scream out, 'oh it's beautiful - I'd do anything for a house like this!' Around the Seller and the Seller's Real Estate Agent, keep your emotions in check. If the Seller is aware that you are in love with the home, they will have a strong bargaining position. But if they think there is a chance you will walk away from the table, they will be more willing to negotiate on your terms.

Tip #3 - Do Your Homework
First, you need to make a checklist of everything you want in a home and then prioritize the list. Amenities you can't live without should top the list and then the other items should be listed in descending order of priority. If you know what you want before you start, it will make the entire process easier, and give you an idea of how much leeway you have in negotiating (i.e. if you are in love with a home and it has everything on your list, you may be less apt to try and haggle the Seller's price down).