What is a First Time Home Buyer
First time home buyer. How do I negotiate the price?
In this case, trust the real estate agent. Negotiation experience is one of the things you picked it up for. Especially if they propose a lower number than expected as they are paid on commission and therefore may be biased the other way.
Part of their job is to look for clues as to how motivated this seller is and what price they may accept as opposed to the price they are hoping for.
And remember, the standard assumption is that the two parties will meet somewhere in the middle, which means that it is common practice to offer 10% less to signal that you could probably be talked into it if they lower the price decrease by about 5%.
This is like a bridge-hand command: it is a semi-formalized system of indications of levels of interest, except with less convention and less rationality.
As for the seller paying the closing costs, this is really part of the same negotiation, and that way, the discussion becomes more complicated for the seller as they have to figure out how much more you need to ask to cover those costs. If they bid, great, take that into account in what you are willing to pay ... but I wouldn't take it or ask for it.
Edit: Yes, unless you have employed a buyer agent (which I recommend for first-time buyers and possibly all buyers), the seller is on fiduciary duty to the seller. However, part of that duty is to enable the sale . If the price is too high and you walk away, neither the agent nor the seller make money.
A bad agent can be just as bad as a bad car salesman. But if you don't like your agent and you trust him for the most part, go to work You with the wrong agent . That doesn't mean you're giving them all of the information the seller wants, but it does mean that you probably want to listen to their posts and understand their rationality before deciding on your own strategy.
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