Tips to Save Big on Closing Costs, Repairs, and More
In a buyer’s market like we’re seeing right now in South Florida, you have one powerful advantage: leverage.
There are more homes for sale than there are buyers — and that puts you in the driver’s seat. While sellers still want top dollar, many are motivated to close deals quickly, especially if their home has been sitting for a while. That gives you the opportunity to negotiate beyond just the sale price.
From closing cost credits to repairs and even free furniture, here’s how to make your offer work harder for you.
💰 1. Ask for Closing Cost Credits
Closing costs can add up quickly — often 2% to 5% of the purchase price — but in a buyer’s market, you may not have to pay them all out of pocket.
Ask your real estate agent to include a seller credit toward closing costs in your offer. This is especially common when:
- The home has been on the market for 30+ days
- There have been recent price reductions
- The seller is relocating or already moved out
💡 Pro Tip: Lenders often allow sellers to cover part of your costs (called “seller concessions”), which can free up your cash for other expenses like moving or upgrades.
🛠️ 2. Don’t Skip the Repairs — Negotiate Them
One of the most overlooked advantages of a buyer’s market? Inspection leverage.
During your home inspection, you may uncover issues like:
- Leaky plumbing
- Roof damage
- Termite evidence
- Outdated electrical panels
In a seller’s market, buyers often waive repair requests to win the deal. But now, you can ask the seller to:
- Fix items before closing
- Lower the price to offset repair costs
- Offer a credit at closing so you can handle the repairs yourself
Always review the inspection report carefully with your agent and prioritize safety or structural issues in your negotiation.
📉 3. Explore Mortgage Rate Buydowns
Mortgage rates remain a major concern for many buyers. But there’s a negotiation trick that might help: ask the seller to buy down your interest rate.
A rate buydown means the seller pays your lender to reduce your interest rate — either temporarily (2-1 buydown) or permanently.
The benefit?
- A lower monthly mortgage payment
- Potential long-term savings in interest
🧮 Example: On a $400,000 loan, a 1% rate drop could save you over $200/month.
Sellers are often willing to pay this cost (typically 1–2% of the loan amount) to close the deal faster — especially if their listing is stale.
🪑 4. Get Creative: Furniture, Appliances, and Extras
Not everything you negotiate has to be financial.
If the seller is relocating, downsizing, or owns a second home, they may be open to leaving behind:
- Appliances (washer/dryer, fridge, etc.)
- Window treatments or smart home devices
- Patio furniture, TVs, even decor
- Lawn equipment, grills, or sheds
These items might seem small, but they can save you thousands — and simplify your move-in.
Ask your agent to include specific items in the offer or contract addendum.
🗣️ 5. Use Days on Market to Your Advantage
One of the strongest signals that a seller may negotiate is how long the home has been listed.
Here’s a rough guideline:
- 0–15 days: Little flexibility, seller may still expect full price
- 16–30 days: Some openness to concessions
- 30+ days: Motivation increases — time to get aggressive
- 60+ days: Likely price drops or flexibility built in
Your agent can pull comparable sales and advise on how strong your offer can be.
📊 Pro Tip: You can also ask your agent if the seller already rejected any offers. That gives you a baseline to work from.
🏁 Final Thoughts
In today’s South Florida real estate market, negotiation is no longer optional — it’s expected.
Sellers understand the climate. Many are already bracing for lower offers, repair requests, or incentives. By working with an experienced buyer’s agent and using the tips above, you can walk away with a great deal — not just on the price, but on the entire purchase experience.
💬 Ready to Start Your Search?
Explore active listings, chat with a local agent, or schedule a free consultation today. Let’s make this market work for you.
