What Is Commonly Negotiated When Buying A Home?

With homebuying, everything is negotiable, from repairs and closing costs to furniture and appliances. Offers and counteroffers can negotiate on a mix of these factors. These are some of the most commonly negotiated aspects in homebuying.

Purchase Price

Your pre-qualification letter from your lender will tell you the maximum you can pay for a property, but you may not need to increase the price up to your limit. Your mortgage lender should be able to advise you on what makes the most sense for your budget and the local market or take a look at our home affordability calculator.

Closing Costs

Closing costs, which include insurance, title fees, taxes and appraisals, are often the most negotiated line item between buyers and sellers. Closing costs can add up to as much as 5% of your total loan amount.

Closing Date

This is the date that you get the keys to the home. If the sellers need time to pack and move out, they may ask for more time, for example.


A seller can reject or modify the contingencies, or conditions for purchase, that you included in your offer. Home inspection, appraisal and home sale are examples of contingencies. Before you consider dropping contingencies, be sure to speak with your real estate agent about the possible risks.

Earnest Money Deposit

Also referred to as good faith money, earnest money is the sum you put down with your offer to show the seller you’re a serious buyer. Typically 1% to 2% of the purchase price, the earnest money deposit applies toward your down payment or closing costs.

Personal Property

You can ask the seller to leave appliances, furniture or window treatments, for example.

The best-case scenario when you submit an offer on a home is that the seller accepts it with no conditions. However, if the home doesn’t truly check off any of your wish list, and negotiations aren’t going your way, maybe it’s time to see what other homes are available.

Source: My Home by Freddie Mac – Homebuying Negotiations: Responding to a Counteroffer – August 06, 2021
This article is for informational purposes only.

Related Articles

Essential Checklist for First-Time Homebuyers

Essential Checklist for First-Time Buyers: Your Path to a Successful Mortgage Journey  Buying your first home is an exciting milestone! To ensure a smooth and …

Read More →
MMP and DC OD - Feature Image-1

DC Open Doors and the Maryland Mortgage Program

DC Open Doors and Maryland Mortgage Program Purchasing a home can be a daunting experience, especially if you’re a first-time homebuyer. One way to make …

Read More →
9 Tips To Help You Prepare To Purchase - Featured Image-1 (1)

9 Tips To Help You Prepare to Purchase Your First Home

9 Tips to Help You Prepare to Purchase Your First Home Buying your first home is an exciting milestone in life, but it can also …

Read More →
Greenbelt Home Advantage

Greenbelt Home Advantage

The Maryland Mortgage Program – Greenbelt Home Advantage Are you a renter in the City of Greenbelt? We are excited to share that if you …

Read More →
Building and Financing Process

The Building and Financing Process

There are several important steps you should take to ensure a successful building and financing process.

Read More →
One-Time Close Construction Loans

One-Time Close Construction Loans

One-Time Close Construction Loan Program   GMM’s One Time Close is available for New  Construction and Renovation projects. This program offers you the benefit of …

Read More →
Scroll to Top