Closing on a $1M house end of next month. With the looming, yet to be confirmed recession, is there anything I could potentially negotiate with the sellers prior to close? E.g. buying agent fee reduction. What is realistic in this environment? Chicago suburbs

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They can tell you to go pound sand.

likefunny

Figured 😂

Well the seller pays realtor fees, so that wouldn’t benefit fit you much.

The seller isn’t going to offer you a discount because of speculation/impending recession. They will also encounter the same economic conditions, whatever they may be, and won’t be looking to give special discounts because of it

like

In this housing market? LOL

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You signed a contract. Too late. You can always back out and likely get your earnest money back

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When you ask for something before signing a contract, it’s a negotiation. When you ask for something after the contract is signed, it’s begging. You might be able to work with your closing agent to see if they will reduce some of their fees, but that’s it. You’re paying what you agreed to pay, unless the house doesn’t appraise at the price you agreed to pay.

like

Kinda late eh?

Had a 4 month closing period

Sure - if the market was terrible you could pull some shady things at closing but that’s not the market today, even if it is softening. You are in it to win it now

Figured there was nothing left to do and don’t have leverage, but wanted to see if there was anything I didn’t think of. Time to go get drunk

Good rate …

Try to be very conservative and save up so you won't default on the mortgage lol

Ask your lender to waive organization fee (about a $1000). I do it every time, albeit upfront before committing to said lender.

You can walk away from the contract and lose the earnest. Prices will be way cheaper over the next year

Maybe ask seller to waive/pay closing costs?

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