Yes, assuming the seller is willing to negotiate. In fact almost everything is negotiable in real estate, from what is included with the home when you purchase it, to the cost of closing on a home loan. It is important to understand the listing price is different from an offer. By listing a home at a specific price the seller is not obligated to sell it at that price, simply because someone is willing to pay it. There are times when home sales go into contract well over the initial listing price. On the other hand, often times homes will sell for under the listing price.

You should understand the power you have as a buyer when negotiating a home purchase against the listed or asking price. If it is a buyer's market which occurs when there are a lot of sellers but not many buyers; home buyers are thought to have the upper hand when negotiating. In a sellers market the sellers have the advantage. Regardless, negotiating is something you should expect no matter what market you are operating in.

Know what you can use as leverage to negotiate final sales price. These points can differ between individuals, but an an example would be the ability to pay cash and close in 7 days. The appeal to a fast and easy close, in most instnaces warrant a drop in sale price. Other points of negotiation could be seller credits, financing contingencies, longer or short escrow periods, larger down payments, seller carry financing, transfer of chattel or personal property... the list could be expanded indefinitely, which is why the final contract should demonstrate "a meeting of the minds" and include everything both parties expect. To discuss all of your options find a a local real estate agent and a finance broker, the two together will be able to provide you the information needed for your understanding current market negotiating practices.

Rate this Answer:

The listed price is always negotiable, to the extent that the seller and buyer desire to negotiate. The best example I use is comparing a listed price to the MSRP price on a new automobile...it is the suggested price and now the negotiation begins. In real estate a lot depends on what the seller is willing to concede to consummate the transaction and, of course, what the buyer is willing to accept in return. Currently the market is making negotiations more difficult as many sellers have listed their properties at their lowest price and do not have room to negotiate without incurring a loss and going to the closing table with a check. Your best course of action is to enlist the services of an experienced real estate agent and have them perform a comparable market analysis to verify pricing of comparable properties.

Rate this Answer: