Seattle New Construction Offer Basics
Seattle New Construction Bargaining Power
Seattle & Seattle Suburb New Construction How To Negotiate For the Best Deal
I recently saw a question on another site about new construction and pricing and whether or not you could get a deal on a Seattle suburb new construction house. It seems the buyer's agent had told them that there was absolutely no bargaining power with a builder. Essentially, this Seattle area buyer was told to pay full price and not try to negotiate. HELLO???? Sorry, but as a buyer, even in a hot market, you should always try to get a good deal for yourself!!! That is why you hire us!!!! I consider myself an advocate for hot deals and responsible representation, and I am not alone! There are many great agents out there that can successfully negotiate on your behalf.
In the past negotiating with builders wasn't easy so this may have been somewhat true, although I have always tried to negotiate with builders on behalf of my buyers. In the 2008 Seattle real estate market, I think builders are expecting EVERYONE to negotiate! Seriously, go in lower than ask and ask for A LOT of seller concessions! You are a golden buyer in a market where buyers have decreased and inventory sits a little longer. This is your time!
Even in faster Seattle market times, negotiating should always be in your mind when it comes to getting a house at the best possible price. Even when builders weren't budging on price much if at all, they were still running specials and throwing in builder perks. I had one buyer that purchase don a builder special only to find that he liked the builder special they ran the next month better. What did we do? I called and asked for the new special and they gave us both specials. Builders want to make you happy!
My Tips for putting in an offer on Seattle area new construction:
- Go in low on price
- Look at their preferred lender and see if your lender can beat that offer
- Ask for closing costs
- Ask for upgrades and add ons (fencing, better appliances, a nicer landscaping package, hardwoods throughout instead of carpet, etc.)
- Put up as much earnest money as possible to be a stronger buyer
- Have your preapproval in hand
Lastly, don't be afraid or ashamed to offer less even if the house is beautiful. It is a lot easier to get a better deal on new construction than a resale in my opinion because the builders are just looking at it as a business transaction. It really isn't personal and they want you to love your house! They also want you to bring in more buyers by telling them how great the house is and what a great deal you got on it.
Courtney Cooper ....For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County. Seattle Real Estate and Seattle Suburbs! Cooper Jacobs Real Estate Services: Experienced REALTOR with a background in accounting - I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Green Lake (Greenlake), Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!
Seattle Real Estate: First Time Buyers 2008 Seattle Market Tips
Seattle Real Estate: Tips For Seattle First Time Home Buyers in 2008
Whether you are looking at Seattle suburbs or neighborhoods, Seattle still has an incredible real estate market in 2008, but there are things to know before you get started!
The Seattle real estate market is different than it has been in the last ten years or so. Many first time Seattle home buyers like to ask their friends and family a lot of questions along the way and tend to rely at times on these lifelines. Unfortunately, new Seattle buyers might find that asking all the questions in the world might not get them the right answers for this new Seattle market. Buying a house any time is a huge task, but being a first time home buyer on top of that makes it ridiculously intimidating for many.
These are some of the things an A + First Time Home buyer has already done:
- Saving money for a down payment and closing costs (and knowing how much these are by asking your Realtor to help guide you)
- Managing credit (debt, etc.)
- Managing employment history
Some of the hurdles in Seattle home buying...
Finding a Seattle real estate broker who will guide you every step of the way. (A good Seattle agent will give you referrals to a good lender who will help you with all the numbers up front - someone they trust that will not deliver unneeded surprises along the way)
Finding a qualified lender who can walk you through each and every step and won't charge you too much money for the privilege. ( Determine your purchase price budget by looking at what payment you can reasonably afford. Get a good faith estimate so you know what closing costs to expect)
Other Steps along the way that your Seattle Realtor should help you with:
- Locating a property in Seattle within your guidelines
- Structuring a strong offer on your behalf and going through the paperwork with you
- Negotiating with your best interests at heart
- Helping to schedule inspections, appraisal, escrow appointments, etc.
- Providing you with an overall picture of the sales process
- Keeping open lines of communication along the way!!! (I let them know what is going on even when nothing is going on so that they don't wonder)
- Referrals, referrals, referrals! - Inspector, insurance contacts, utility contacts, favorite restaurants or vets and doctors in the area, etc...
- Look at the resale!!! I always council Seattle buyers on their exit strategy - this is an investment as well as a home! How well will this house or condo sell in the future based on some of its attributes....
I like to make up a binder with lots of information for my first time home buyers in Seattle - I want to give them something that might help along the way or clear up any confusions. I also make up a calendar of events showing all of our important contract dates as well as a flow chart of the closing process. I like to look over the Good Faith Estimates from the lender to make sure all charges seem to be in line and have them ask questions if I see anything out of the ordinary.
I really want to be an advocate for Seattle first time home buyers that give me the privilege of helping them!
I love the process of getting someone into a home for the first time and seeing them transform from being renters to owners in something that they are vested in.
Courtney Cooper ....For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County. Seattle Real Estate and Seattle Suburbs! Cooper Jacobs Real Estate Services: Experienced REALTOR with a background in accounting - I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Greenlake, Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!
If you are thinking of relocating to Seattle, I am an expert at Seattle Relocation services and can help you find the perfect home while making sure it is a solid financial investment!
Seattle Suburbs Real Estate: Market Update for 2008
