You’ve found the perfect house, but how can you get the perfect price for it? Hire are some ways to negotiate:
• Points versus rate. The points system lets you negotiate for a lower interest rate by paying part of the interest when you close the deal. This is better if you plan to live in that home for at least five years, since you benefit from the long-term savings in interest.
• Get a pre-approved loan. You can make a more solid offer and narrows down your choices to what you can really afford. Remember that pre approval is different from mere pre qualification, which is quicker and more shallow.
• Get a home inspector. Look for someone who is an engineer to conduct home surveys, helping you spot any repairs that must be done, and allow you to negotiate for a lower price (to compensate for additional renovations you may need to get).
