Negotiating

It is a very infrequent occurrence that an initial offer is accepted. You can almost always expect some sort of counter to your offer and negotiations. It may be strictly related to price or it may be the fact that you want the porch swing and washer and dryer included in the deal. Be prepared for some haggling.

It's extremely important that you keep your financial state of affairs in mind and not let your heart make you house poor. (House poor is when you've overspent your budget on the mortgage and now can't afford to buy new drapes for the house or take your spouse out to dinner!)

Another helpful tidbit of information has to do with why the sellers are selling and how long the house has been on the market. Are they building a house and trying to meet a construction deadline? Have they already moved into another home and are now carrying two mortgages? Has the house been on and off the market for a year or more? All of these things can strengthen your negotiations in the deal.

Finally, be realistic in your offer for the house. Don't make a lowball offer on a house you really want. If your research has shown that the price is realistic, then offering a really low price is only going to annoy the sellers and potentially upset your chances of getting the house -- particularly if there are others folks making offers, too.