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When you're offering less than market value for a house, asking the seller to throw in the stove and refrigerator sounds a little pushy. But sometimes, the purchase price is all the seller sees. He's so focused on getting that purchase price a little higher that he really doesn't care about those expensive appliances.
 | Before you present your offer, you may not be entirely sure about how stuck the seller is to the sticker price. So, when you present your offer, consider asking the seller for additional items. If he won't budge on the price, he may be willing to negotiate on these other items, which can boost your bottom line. Here are some ideas on what you can request from the seller: |
- To pay for all or some of the repairs. If the home is in need of some costly repairs, ask the seller to pay for all or a portion of the repairs. Whatever you save in repairs decreases your total investment in the property and increases your bottom line.
- To leave all appliances. If the appliances are relatively new and in good condition, ask the seller to include the appliances. A refrigerator, stove, microwave, and washer and dryer can represent thousands of dollars. Whether you're planning to rent or sell the house, saving money on buying the appliances later can be a big plus.
- To pay a portion of closing costs. The seller can legally pay up to 6 percent of closing costs. Although that may not represent a huge chunk of change, it can help you recoup a little if you have to give in on the purchase price.
- To waive reimbursement of tax prorations. In some states, the seller pays property taxes in advance. When you buy the property, you normally pay back to the seller any taxes he paid for months that you will own the house. Because the seller already parted with this money, he often doesn't see it as a loss if you ask him to waive the reimbursement. This waiver could save you $1,000 to $3,000 dollars, depending on the time of the year and the tax amount on the property. In other states, homeowners pay taxes in arrears — the homeowner pays last year's taxes this year. In these states, the seller typically gives money to the buyer at closing to cover taxes for any months the seller lived in the house.
To the seller, everything that affects the bottom line — the amount of cash she walks away with at closing — becomes her main focus. Asking the seller to leave appliances and waive the reimbursement of tax prorations is often less of an issue for the seller than asking for a significantly lower sales price. These are items that are often open for negotiation.
| You can often distract the seller by asking for something that you know the seller won't negotiate. Say the seller has a boat stored in the garage. He loves this boat, and you know that he probably doesn't want to sell it. List it on the purchase agreement. When the seller sees it, he says, "No way is he getting my boat!" You agree to take the boat off the purchase agreement, and the seller okays the deal, giving you what you really wanted in the first place. |
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