When looking buy a house, remember, you may not be able to out-bargain a professional salesperson. Your strategy is to arm yourself with information and find out as much as you can, regarding the housing market and the seller. In this manner, you can negotiate from strength.
When house hunting, a veteran developer once suggested you keep three golden rules in mind:
Don't fall in love with a house and lose your senses. You don't marry a house. Real estate property is an investment.
Buy only what makes economic sense to you.
Here are some pointers to sharpen your negotiating skills when buying a house:
• Learn comparable prices for similar houses in the region. That way you'll know a good price when you hear one.
• Shopping at least a half dozen houses lets you know firsthand what the market is and how the house you are eyeing compares.
• How long has the house been on the market? If it's already taken several months, the buyer could be getting anxious and more willing to lower his price.