Closing the deal on Charleston Real Estate

We are currently experiencing a buyer’s market in South Carolina. This implies that current real estate market conditions are favorable for buyers or renters. The supply of homes is greater than the demand throughout South Carolina. This is the time to negotiate for lower prices in a market where sellers are not getting their original asking price and interest rates are low, 5.875% as of Friday, and falling. However, negotiation needs to be a win-win situation. Everyone wants to feel as if they were not cheated, but rather benefited from the transaction.

Before attempting to negotiate, do your homework!

• Know about the market for the property for which you’re looking to buy. Try to find comparable homes in the same or like communities to help with your negotiations
   
• Note your strengths as a buyer (i.e. Maybe you can close the sale quickly) Get pre-qualified or pre-approved; this gives you more credibility in the seller’s eyes
   
• If possible, do some research on your seller.
   
• Price negotiation isn’t the only negotiation. (i.e. Maybe the seller is willing to replace the carpets, clean the chimney, or put up a fence. Does their occupation or network allow them to do something that is worthwhile for you while inexpensive for them?)
   
• It always helps to have a representative, get yourself a real estate agent.