Drive a Hard Bargain

Breaking news! The economy completely stinks right now. It’s nothing new, and neither is the fact that Americans across the nation are fearful of losing money, whether it is in the stock market, on their home or in their retirement plans. If you are moving to a new city and have yet to close on a house, apartment or posh condo there are a few things you need to consider before signing that contract.

The number one thing to do? Play hardball. Now is the time when you need to call on your best negotiating skills and drive that price down a bit. Think it’s impossible? Not so, say housing specialists. In fact, one couple who was purchasing a New York City condo for $2.65 million was able to bargain for the sellers to pay the $20,000 assessment that was required to replace windows. Analysts say a year ago the sellers may have refused, but today committed buyers are hard to come across and experts say, “Take the money and run.”

Don't be afraid to drive that hard bargain. Ask a seller to pay a portion of closing costs or negotiate that price until it fits your budget. You may also want to see if they will throw something in for free, like a dishwasher, refrigerator, washer or dryer. If you are too timid, take a friend with you who will have your back. You’ll be glad you have someone to lean on for bargaining support.

We’re curious: What’s the best item you ever bargained for? [New York Magazine]