You may be in a strong bargaining position to make an offer below asking price if, for example, you are paying cash, or have been pre-approved for a loan. Conversely, in a “hot” seller’s market, you may have to offer above the asking price to beat other offers or bids.
Your bargaining position is affected by the reason the house is being sold. For example, the seller is moving for job-related reasons or is divorcing and is in a hurry to sell, or is in no hurry and can wait for the right offer.
Your sales professional will negotiate the often emotional, sometimes maddening details of offers and counter-offers. These may include whether the buyer or seller pays points, who pays for the any repairs to the property, or the buyer wanting to keep the recreation room pool table.