The Knoxville real estate market has recently transitioned back into being a seller’s market in recent months. If you’re thinking about buying a Knoxville home for sale this summer, you should be prepared to change your negotiation tactics from the very beginning in order to succeed. Here are some tips for buying a Knoxville home in a seller’s market.
Write At List Price
If you’ve found a Knoxville home for sale that you love, don’t miss out by writing a low offer in a seller’s market. If a home is in great condition and hasn’t been on the market long, you’re most likely fighting with other buyers to win the bid, so you won’t want to go in with a low offer. Houses that are priced well and in great condition are going quickly in recent months on the Knoxville market. If you find a home you love, be sure to go in with a strong offer.
Up The Price For Closing Costs
As a buyer, you cannot assume that all buyers will be requesting their closing costs be paid by the seller. If you’re wanting to get your closing costs paid, consider upping your purchase price to cover the closing costs. This will make your offer more appealing to a seller.
Ask For Less
Are you wanting the washer and dryer? Are you wanting a home warranty? These little items can add up for a seller, so if you can live without them, consider leaving them out of an offer. As a buyer, these items are easy enough for you to buy for yourself, so there is no use in losing your dream home over a few small items.
Up Your Earnest Money
Earnest money is another thing that can help strengthen your offer. It is a very easy way to show a seller that you’re serious about the deal and less likely to walk away. Instead of putting $500 down as your earnest money, consider upping it to $1,000 or even $2,500 to show the seller that you’re serious.
Are you thinking about buying your first home this year? Please let us know if there is anyway that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at[email protected]. Kati can be reached at [email protected]. Also, be sure to check out our Knoxville Home Search Page.
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