House Price Negotiation
Buying Columbia SC Real Estate

It is rare, particularly when dealing with older houses in Columbia SC in need of renovation, that a seller expects to receive the asking price of the house. They usually expect that you will negotiate to a lower price on the property.

This is one of the many occasions when having an Exclusive Buyers’ Agent from Earth Available Realty, Inc. will be a tremendous benefit to you. They are experienced negotiators, with an extensive knowledge of the area and the Columbia, SC area real estate market . Their contract is written with many protections for you built-in to the wording, which helps simplify the negotiating process.

Some ideas that you and your Earth Available Realty Buyers’ Agent may discuss when planning the negotiating strategy are:

• Exercise the most extreme politeness, even if you don't trust those you are dealing with.
• Gently but firmly mention the flaws you have found and how much they are apt to cost you to fix.
• Let it be known you are looking at other houses as well as this one.
• Ask the owner to include certain repairs as part of the deal.
• Ask the owner to include in the deal certain items, such as:
   
  • Furniture
  • Tools
  • Appliances
  • Restoration Materials
     
• Ask the owner to pay your closing costs or give you the time remaining on the insurance policy to reduce your start up costs.
• Explore the idea of the seller giving you a second mortgage at a lower rate than the bank is giving you on the first mortgage; if the seller is planning on investing the profit from the sale, the interest you are willing to pay him or her may be more than their bank or other investment interest will yield.

Watch out for sharpies who just want to make a lot of money on a house that is worth only a little.

In the state of SC, you are required to have an attorney handle the Closing of the Loan and Purchase. If you already have a lawyer, who is experienced in real estate work (not all attorneys are), who you want to use, that is fine. If you are new to town, or have not worked with an attorney previously, Earth Available Realty, Inc. will be able to assist you with references to several experienced attorneys who have given our clients good service in the past. Make sure your lawyer protects your interests adequately.

Ask Hugh and Carol Ryall, Earth Available Realty, Inc., about negotiating the price on Columbia SC properties.

This Home Buying Tip was excerpted from:

Reviving Old Houses by Alan Dan Orme, Garden Way Publishing, 1989.

ISBN# 0882665634

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