Can you negotiate a better price?

A few weeks ago I represented the buyers in a transaction. The property was a lake front property in Irvine, California. While the home was in an ideal location, and it was in excellent condition, it was a bit over priced. The seller of course was emotionally attached to the home and had a very difficult time reducing the price. My buyers loved the home, but considering the real estate market these days, they did not want to over pay.

While the buyers were very qualified and put almost 50% down the bank requested 2 appraisals. The first came in at the price my buyers had agreed on, but then the 2nd appraisal was much lower. While we were in escrow I was able to get a $25,000 reduction off the price. Why I am talking about this is because so many buyers are so concerned with over paying these days. If you have a good agent they should be able to negotiate a fair price and even in situations were it could be difficult due to the sellers plan, an appraisal can help you. Be sure to get an appraisal or 2. It could get you a better price.

For more information on buying a home please feel free to visit my website at

www.YourNewportHome.com

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