Home Buying Myths Explained: Myth 4-Always Leave Room For Negotiation After Inspections

Posted by Leo Clark. on Tuesday, October 7th, 2014 at 7:23pm.

Home Buying Myths Explained

When it comes to buying a new home, an inspection can sometimes make or break any chances of getting a final deal completed. Many buyers will go into a negotiation thinking the seller has left room on the table for future price negotiations after the home or condo has been inspected, therefore assuming they too should also leave a little bit of wiggle room when first presenting an offer.  In theory, this approach might seem somewhat logical, but in reality, it’s one of the most common ways to lose out on a home you may really want.

Despite common assumptions about sellers, most go through all the necessary motions of getting their home or condo in tip-top-shape before going to market, helping ensure any possible transaction will go as smoothly as seamlessly as possible. Additionally, a good sellers’ agent will work diligently with owners to make sure their home is in the best possible condition prior to listing, which will generally play a prominent role in getting market value for their property, or perhaps even more.

As a result, if buyers initially make a low offer in anticipation of a problem during an inspection, the seller may not take that offer, or buyer, seriously once that inspection goes flawlessly. An experienced buyers’ agent should always advise their clients to be fully happy with the final price that’s offered because after all, should an issue about the property arise during an inspection, some sort of credit will always be awarded to the buyer, but counting on such credits will only hurt your chances of securing that new home if the inspection does come back clean.  

Myth 1: Working Directly with the Listing Agent Gets Buyers a Better Deal

Myth 2: Buyers Should Never Offer Full Price

Myth 3: Spring & Fall Are The Best Times to Buy

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