- Get pre-approved for a mortgage
Before you start looking at houses, it’s important to get pre-approved for a mortgage. This will give you an idea of how much you can afford and will make you a more attractive buyer to sellers. By getting pre-approved, you’ll also be able to move quickly when you find the right house, as the pre-approval process can take several weeks. - Do your research
Research the market and the neighborhoods you’re interested in. Look at prices of similar houses and compare them to the asking price of the house you’re interested in. This will give you an idea of what a fair price is, and will help you negotiate with the seller. - Look for houses that need work
Houses that need work can often be purchased at a lower price. Keep in mind that you’ll need to budget for repairs, but if you can do the work yourself, it can be a great way to get a good deal. Look for houses that need cosmetic repairs such as painting, new flooring or landscaping. - Be flexible with the closing date
Some sellers may be willing to offer a lower price if the buyer can close on the house quickly. If you are able to close on the house sooner than the seller expected, it can be a win-win for both parties. - Ask for closing costs to be paid
Closing costs can add up quickly, so ask the seller to pay them or at least to split the cost with you. This can save you thousands of dollars, especially if you are buying a more expensive property. - Look for houses that have been on the market for a while
Houses that have been on the market for a while may be more willing to negotiate on price. If a property has been on the market for several months, the seller may be more motivated to sell and may be willing to accept a lower offer. - Make a lower offer
Even if you think the asking price is fair, you can always make a lower offer. The worst that can happen is that the seller will say no. It’s important to remember that the asking price is just a starting point for negotiation, and most sellers expect buyers to make an offer that is lower than the asking price. - Look for houses that are being sold by an estate
When a house is being sold by an estate, the executor may be more willing to negotiate on price. The executor may be more focused on selling the property quickly and settling the estate, rather than getting the highest possible price. - Look for houses that are being sold by the bank
Banks are often willing to sell a house at a lower price in order to get it off their books. Banks are not in the business of being landlords and they are motivated to sell the property as soon as possible. - Hire a real estate agent
A real estate agent can help you find the best deals, as they have access to homes that are not listed publicly. They can also help you negotiate the best price and can help with all the paperwork. A good real estate agent will have a deep understanding of the local market, and will be able to help you find the best deals.
