How do I make an offer on a home and negotiate with the seller?
You, as potential buyer, start the process by putting an offer with price and terms in writing and presenting it to the seller through an agent. Buying a home is probably the biggest financial investment you will make. Only you can decide which home you want, and the price is up to you and the seller.
Understand the seller has three basic options: to accept your offer, counter offer on specific details, or reject your offer. If there is any negotiation, it usually takes place trading counter offers, if the seller doesn't immediately accept or reject the offer. Keep up the dialogue until you arrive at the price you can pay and the price and terms the seller can accept.
This is where an agent's help is invaluable. The agent keeps the negotiation process running smoothly. With a knowledge of both your situation and the seller's, plus a complete understanding of financing options, an agent can suggest strategies that bring about a satisfactory transaction.