Negotiating A Lower Price

There are certain things you can do to negotiate a lower price for a property. Even though you may agree the price is already ok, you will want to get some inspections done. This may show you things that will need to be paid for in order to get the property into shape or fix problems. By doing this, you are safe-guarding yourself against any future home problems.

If you follow this advice and hire an inspector to check out the property, there are a few things listed below that he or she will check during the inspection.

• All Structural components. They will check the foundation, floors, walls, columns, ceilings and roof.
• The House exterior. This includes doors, windows, chimneys, decks, balconies, steps, drainage and driveway.
• Plumbing. This includes pipes, sinks, drains, and bathroom fixtures.
• Electrical system. This includes wiring and grounding equipment, amperage and voltage ratings, circuit breaker and lighting fixtures.
• Heating. This will include boilers, thermostats, heat pumps, insulation and central controls.

Please note that this inspection will not include the decor of the home or the appliances, these things will normally be changed by the new home owner.
Other areas that you may want looked at will be the inspection for pests, drainage etc, these problems can cost around €300 to €400 to fix.

Most of the time the first inspection above is required by your mortgage lender.

When you negotiate the price of your new home it will normally start with you making an first offer, this offer is lower than the asking price. Once this has been placed, the seller can choose to accept your offer, reject it or just simply ignore it. The seller can also make you a counter offer which is where they tell you a price between your offer and the normal asking price for the property.