You’ve meticulously planned out the financial aspects of buying a home, from square footage costs to insurance premiums. However, what about unexpected surprises like that enticing pool table in the basement? As the current owners are downsizing, what are the odds that they’ll include it in the sale?
Transaction Extras:
When purchasing real estate, it’s possible to negotiate with your real estate agent or directly with the sellers (if no agents are involved) to include additional items in the transaction. These extras range from furniture to smart home devices and systems. Sellers may have bulky furniture or specialized equipment that doesn’t fit well in their new home or they may desire a fresh start with new furnishings.
This presents an opportunity for buyers to benefit. Instead of dealing with the hassle of disconnecting, moving, or disposing of these items, sellers may be inclined to sell them at a reduced price to the buyer. If interested, buyers can broach the topic with sellers, though they shouldn’t expect these extras for free; sellers may propose a price for them.
Can These Extras Be Included in Your Mortgage?
Whether these extras can be included in your mortgage depends on your lender’s policies. Typically, buyers should be prepared to cover these costs out of pocket at closing. However, they can be specified in the purchase contract, with the assistance of your real estate agent, outlining exactly what’s included and at what cost.
