[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2o4jpqj1mff5r":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},4284,"buyers-are-regaining-some-of-their-negotiation-power-in-todays-housing-market","Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market","If you're thinking about buying a home today, there's welcome news. Even though it’s still a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F04\u002Fwhy-its-still-a-sellers-market\u002F\">sellers’ market\u003C\u002Fa>, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F09\u002F13143122\u002F20220915-KCM-Share.jpg","If you're thinking about buying a home today, there's welcome news. Even though it’s still a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F04\u002Fwhy-its-still-a-sellers-market\u002F\">sellers’ market\u003C\u002Fa>, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close.\u003C!--more-->\r\n\r\nToday, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F31\u002Fbuyers-you-may-face-less-competition-as-bidding-wars-ease\u002F\">bidding wars\u003C\u002Fa> is easing this year. So, if bidding wars were the biggest factor that had you sitting on the sidelines, here are two trends that may be just what you need to re-enter the market.\r\n\u003Ch4>\u003Cstrong>1. The Return of Contingencies\u003C\u002Fstrong>\u003C\u002Fh4>\r\nOver the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But now, fewer people are waiving the \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F19\u002Fwhy-a-home-inspection-is-important-infographic\u002F\">inspection\u003C\u002Fa> and appraisal.\r\n\r\nThe \u003Ca href=\"https:\u002F\u002Fcdn.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002F2022-07-realtors-confidence-index-08-18-2022.pdf\">latest data\u003C\u002Fa> from the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR) shows the percentage of buyers waiving their home inspection and appraisal is declining. And a \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002F2022-summer-sellers-survey\u002F\">recent survey\u003C\u002Fa> from\u003Cem> realtor.com\u003C\u002Fem> confirms more sellers are accepting offers that include these conditions today. \u003Cstrong>According to their August study:\u003C\u002Fstrong>\r\n\u003Cul>\r\n \t\u003Cli>\u003Cstrong>95% \u003C\u002Fstrong>of sellers reported buyers requested a home inspection\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>67% \u003C\u002Fstrong>of sellers negotiated with buyers on repairs as a result of the inspection findings\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nThis goes to show buyers are more able to include these conditions in their offers today and negotiate as needed based on the outcome of the inspection.\r\n\u003Ch4>\u003Cstrong>2. Sellers Are More Willing To Help with Closing Costs\u003C\u002Fstrong>\u003C\u002Fh4>\r\nGenerally, closing costs range between \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F03\u002F15\u002Fdont-get-caught-off-guard-by-closing-costs\u002F\">2% and 5%\u003C\u002Fa> of the purchase price for the home. Before the pandemic, it was a common negotiation tactic for sellers to cover some of the buyer’s closing costs to sweeten the deal. This didn't happen as much during the peak buyer frenzy over the past two years.\r\n\r\nToday, as the market shifts and demand slows, data from \u003Cem>realtor.com \u003C\u002Fem>suggests this is making a comeback. A \u003Ca href=\"https:\u002F\u002Fnews.move.com\u002F2022-08-30-Realtor-com-R-Survey-Bargaining-Power-is-Back-92-of-Recent-Sellers-Accepted-Buyer-Friendly-Terms\">recent article\u003C\u002Fa> shows\u003Cstrong> 32% of sellers paid some or all of their buyer’s closing costs\u003C\u002Fstrong>. This may be a negotiation tool you’ll see as you go to purchase a home. Just keep in mind, limits on closing cost credits are set by your lender and can vary by state and loan type. Work closely with your loan advisor to understand how much a seller can contribute to closing costs in your area.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nRegardless of the extremely competitive housing market of the past several years, today’s data suggests negotiations are starting to come back on the table. This is good news if you're planning to enter the housing market. To find out how the market is shifting in our area, let's connect.","\r\nRegardless of the extremely competitive housing market of the past several years, today’s data suggests negotiations are starting to come back on the table. This is good news if you're planning to enter the housing market. To find out how the market is shifting in our area, let's connect.",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},38,"Move-Up","move-up","2022-09-15T10:00:24Z","2023-02-03T15:33:52Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},4283,"is-the-real-estate-market-slowing-down-or-is-this-a-housing-bubble","Is the Real Estate Market Slowing Down, or Is This a Housing Bubble?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F09\u002F13112418\u002F20220914-KCM-Share.jpg","2022-09-14T10:00:44Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},4285,"a-crucial-first-step-mortgage-pre-approval-infographic","A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F09\u002F15085140\u002F20220916-KCM-Share.png","2022-09-16T10:00:38Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,68,69,73,77,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":25,"name":26,"slug":27},{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]