Negotiating Furniture in Your Real Estate Transaction
Here are some tips to keep in mind when negotiating furniture into your real estate transaction.
As a buyer, you can write an offer that includes pretty much anything you see in a property: appliances, furniture, artwork & décor and rugs. The problem is unless the sellers specifically invite buyers to negotiate for these items, the sellers probably have the intention of keeping them. Now, when the buyer includes them in an offer, we suddenly have two sets of negotiations going on: one for the real estate and one for the extras. Our experience with negotiating furniture is that the value of the real estate is often easier to agree on than the extras. The problem is usually that the buyer has the mindset that they’re taking something off the seller’s hands, and that “they probably couldn’t get much for it on Craigslist anyway.” The seller has the perspective of knowing exactly what they paid, and they’re often thinking, “if I sell this sofa for $500, then I’m going to need to pay $2,000 to buy a new one.” Funny thing is, both are correct.
To avoid reaching a stalemate when negotiating furniture, here are a few tips for buyers and sellers:
Tips for Buyers
Stay focused on the real estate. This is not a furniture warehouse or an art display. Ask your REALTOR® if any items are included (appliances typically are) and don’t let the furniture and décor influence your feelings about the home. If you absolutely love a particular piece, then write it into your offer, but don’t get attached to it if the seller says no.
Tips for Sellers
If there are any items in your house that are absolutely off the table for negotiations, then get them out before showings start. If they make a room look better, be prepared that the buyer will see that and want it for that exact reason. The second best option is to ensure that your realtor specifies to other realtors that certain items are not to be included.
If you are looking to buy a property in the current market, or in the future, it’s important to have an expert real estate agent on your side. Get in touch with The Condo Group Real Estate for more information at 250-382-6636.
– The Condo Group Real Estate