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Santa Fe Home Buyers – Should You Offer Full Price?

Home buyers want to get the best deal possible. Buyers typically offer a lower amount than the list price, and leave some room for price negotiations. And we all love to say that we purchased our home for less than its original sales price. Everyone loves a bargain. Many Santa Fe home buyers would wonder why they should even think about offering full price for their new home.

Although it seems natural to start negotiating for your new home by offering less than the asking price, there are other terms that could be negotiated instead to save you more money and give you more value for your home purchase. Realistically, saving a few thousand dollars off of the price may not make too much difference in your monthly payments, and those thousands of savings could be included in other areas of the purchase contract.

For example, assume you find a home needing $5000 worth of improvements. You could offer $5000 less for the home, or offer full price and ask for the seller to make the improvements before closing. This essentially gives you a home improvement loan at the current low mortgage interest rate, instead of an additional higher interest loan that you might need to make the home improvements later.

Another way to save money without lowering the sales price in this example is to have the seller pay $5000 of your closing costs. Buyers, who often find themselves with limited cash flow after a home purchase, can still negotiate a good deal while lowering their expenses short term at closing and/or long term on needed home improvements.

So, offering full price does not leave the buyer without room for negotiating a great deal. It also has a good chance of making sellers happy and more willing to negotiate other terms of the sales contract.

Contact me if you are interested in more ideas on buying a Santa Fe home for the best deal possible.

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