Home buyers often do not realize that everything in real estate is negotiable. They should understand that the real estate agent has a duty to submit any offer, even low-ball offers, to the seller, who can either reject it, accept it, or make a counteroffer. Even after the contract to purchase has been signed, buyers should continue negotiations with respect to choosing their mortgage lender and shop around for the best rate. Once they have chosen a lender, buyers should ensure the contract is contingent on the home inspection, giving them the option to cancel the contract for any reason based on the inspection or giving the seller three days to agree to fix a list of problem areas. Buyers should not allow agents to choose the lender, inspector, or settlement provider, as it is wise for them to compare the prices of several different providers before making a decision. They also should shop around for homeowners’ insurance to get the best deal. Although Realtors generally are willing to guide them through the entire buying process, buyers should understand that it is their money and refuse to make any decisions until they have all the facts and have negotiated on price and terms. | Read More