Negotiating the price of your home is the most daunting task in the house buying process. Fortunately, in a cold real estate market, the odds are in your favor. But how do you negotiate the best home price? Read on for helpful tips and tricks to buying the house of your dreams.

Finding the Right Real Estate Agent

Nolo's Essential Guide to Buying Your First Home (Nolo 2007) suggests hiring a licensed exclusive Buyer’s Agent instead of a traditional real estate agent. A real estate agent is legally obligated to get the seller the best price. An exclusive buyer’s agent works to negotiate the best home price for you.

Check out the Comparables

Your agent can tell you the purchase price of similar houses in your area. However, comparable does not mean the same. If a cold market continues, you may negotiate a significantly lower home price than houses from just a few months ago. Weigh your comparables by asking these questions:

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