Everyone’s saying it’s a buyer’s market. How do I take advantage of that?
First of all, realize that a buyer’s market means that there’s a lot more inventory to pick and choose from. And with more inventory comes more negotiating power for you as a buyer. You may be able to bid below asking, bump down purchase price for necessary updates you’ll need to make, or even convince the sellers to update certain amenities for you. Be up front about what you expect and see what they come back to you with. You might be pleasantly surprised.
Nestpert Joseph Russo, Executive Director of The National Council for Financial Literacy and Real Estate Expert at ITeachAboutMoney.com
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