As a potential buyer, you should carefully evaluate the local market conditions to satisfy yourself that the sellers asking price is within the right range for their property. Even in a "sellers market," offers often come in at five percent below the asking price. Most sellers will consider offers within that range very seriously. Offers more than 10 percent below an asking price may be viewed as frivolous or "low-ball" offers.

If you believe a property is significantly overpriced, it is acceptable to offer much less than the asking price. With some sellers, they will be offended and may not even counteroffer. However many will begin to realize that their asking price is too high and respond with a more reasonable price.

Price isn't the only term of the sale that makes a difference in negotiations. A number of considerations may be equally important to buyers and sellers alike. For example, the closing time requested is an important factor. Needed repairs can become a point of negotiation. Sometimes the seller will be willing to make repairs in exchange for a higher selling price. The advantage to the buyer is that the cost of the repair is essentially financed as a part of the mortgage. The advantage to the seller is that it helps to guarantee your interest in buying the property.

Whenever you are negotiating you should be prepared to give up certain things in order to gain others. While appliances in a home may be important, they are rarely worth enough to risk losing an otherwise good deal. On the other hand, if the seller won't budge on price but is willing to include appliances, their value may be enough to save you money after you move in.

Using a real estate professional to handle negotiations on your behalf can have several advantages. First, a real estate professional can negotiate with a certain amount of detachment from the sometimes emotionally charged issues involved. Second, the real estate professional's market knowledge and negotiating experience can prove extremely beneficial. Since most sellers will be represented by a real estate professional, it may make sense to have your own professional in your corner. By taking the time to learn about each parties wants and needs, the real estate professional can help find a bargain that satisfies everyone.