For some people, haggling over price is a game. But most of us feel a little squeamish about it, although we do like a good bargain. When you're buying a house, there is a certain amount of negotiation that takes place and the final price is a part of that negotiation.

When you and your agent find a home that seems to fit all your criteria except for price, how do you know what to offer? Where is the cut off between getting a good deal and offending the seller? Offer too low and the seller is liable to stop all communication - too much and you've cost yourself money that could have gone into moving expenses or new furniture.

This is where the knowledge and expertise of your agent really comes into play. Your offer will depend on many things, including the local market, how long the property has been sitting, if the seller needs to move because of something like a job location and whether they have already purchased another home.

The home's condition is another matter and can give you leverage when you're bidding low. Are there repairs or updates that need to be made? If so, document the fact and get some generalized estimates. This information can be presented to the seller when making a low offer.

Above all, keep your budget in mind. Don't get caught up in the negotiation and overbid what you can comfortably afford.

Source PropertySource