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What Can be Negotiated When Buying a Downtown Loft or Condo

What do I Negotiate when Buying a Loft or Condo?

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Loft and Condo Negotiations

If you are dreaming about living the charmed life in downtown San Diego, you’re not alone. While there are many gorgeous condos, lofts and penthouses available for purchase in this hot real estate market, there are also many potential buyers who are actively looking at the same properties that you have your eye on. As a result, you may want to structure the sales contract in a manner that benefits you, without turning your seller off on your offer.

Price

As with any type of real estate offer, you can negotiate the price of your condo, loft or penthouse in Downtown San Diego, but there are other aspects of the contract that you can negotiate as well. For example, you may be able to negotiate an extended or shortened contract time based on your needs. For instance, you may be able to close immediately, helping the seller to move to their next location as quickly as possible. If the seller has not yet purchased another property and you are in no rush to move in, you could suggest a longer closing time to make your offer more appealing.

Repairs

The property inspection may reveal repair issues that you can negotiate with the seller to remedy before closing. You can ask that the seller make all repairs found in the inspection, or you can ask that they repair the most critical items. You can also ask for financial compensation of the repairs and then make the repairs on your own once you take possession of the loft or condo.

Furnishings 

When buying an urban property, some buyers will also want to keep the seller’s furnishings in the home. After all, moving furnishings into and out of an urban high-rise can be rather stressful and even costly to both parties. Because of this, it does make sense for you to make this offer if you like the seller’s style. If you negotiate this into the contract, keep in mind that the furnishings are not considered to be real estate. They may be conveyed through the contract, but they will not be covered by your real estate loan, and you will need to find another way to pay the seller for these items.

An experienced Downtown San Diego real estate agent who regularly assists clients with this type of transaction will be a valuable asset to you during your purchase and can help you negotiate terms that will benefit your personal situation.

If you are interested in buying a condo, loft or penthouse in Downtown San Diego, don’t hesitate to reach out to the downtown real estate experts at 92101 Urban Living. We would be more than happy to share our featured listings with you and help you find the property that meets your needs and lifestyle. Call us today at 619-649-0368 – we look forward to hearing from you. ')}