If you are a homebuyer in today’s market, you may have opportunities that you are unaware of.
This year we have seen a shift in the real estate market and it is proving to be more
advantageous for buyers than the last two years.
So what does that mean for you as a buyer? In the last two years, the market has seen a
buying frenzy where there was lack of inventory, multiple offers and buyers being outbid by
thousands of dollars which has been more beneficial to the seller. BUT because of the shift,
today’s buyer is in a better negotiating position
So what are some items buyers can ask for in their purchase from a seller?:
- 2/1 Rate Buy Down is all the buzz these days. A 2/1 buydown program is a type of
financing option to reduce your interest rate for the first two years of a mortgage. That
means your interest rate is reduced by 2% the first yr and 1% of the second yr. - Seller Closing Cost credit – Sellers can provide a credit to help buyers with their
closing costs. - Down Payment Assistance – There are several down payment options available
today to assist buyers with their purchase, find out what you can qualify for. - Seller concessions for repairs – Seller may be willing to do repairs needed from
inspections or offer a credit - Negotiation of price – sellers may be more willing to reduce their price in a slower
market
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