In a seller’s market, a prospective home buyer needs to be a little more cautious when negotiating a purchase; however, in today’s buyer’s market, incentives are an accepted part the home buying process. many buyers in fact are not even aware that they can buy a home and get commission rebates. It certainly doesn’t hurt to ask.
It’s quite acceptable to negotiate 3-5 percent off of the price of the house you are considering buying.
Everyone buying a house needs a home inspection. It is the best way to avoid costly surprises that may result from termite damage, water damage, faulty wiring or cracked foundations to name a few. Once the home inspection is complete, the buyer can take his the troubles, costs associated with them, and either request that they be fixed or deducted from the purchase price. It is also common practice to request the seller to arrange and pay for the inspection.
There are around 20,000 deaths every year due to radon gas found in the home. A test to determine radon levels in a house costs less than $70, and if the levels are high, repairing the problems cost about $1,100.
When purchasing a home with a well, the seller should be responsible for a thorough inspection of the system including:
- Functionality of the pump and overall well system.
- The well quantity, or the amount of water drawn per minute, to ensure an adequate flow and water pressure.
- The water quality has to be tested to ensure that it doesn’t pose a health risk.
In rural areas with no connection to sewer lines, the seller also has to provide proof of a certified inspection of the septic system.
Including a home warranty can go a long way to providing peace of mind in a home negotiation. At an average cost of $350 – $500, it is a reasonable request to make of a seller.
Sometimes a carpet or paint job may be in dire need of upgrading and a buyer can either request replacement of these items or deduct the cost from the offer.
Generally, any fixed items stay with the house, but often times it is to a buyer’s advantage to request certain things to be included, such as: drapery, appliances, lighting fixtures, decorative items, lawn tractors or snow blowers.
When purchasing a home from a builder, the incentives are almost endless, and range from new appliances, landscaping, big screen TV’s and even swimming pools. Now you know how to buy a home and get commission rebates, take advantage of this knowledge. For more info visit: RebatesOnRealestate.com