Keys to Homeownership: Negotiating a Purchase Price and Finding the Right Insurance Company

Keys to Homeownership: Negotiating a Purchase Price and Finding the Right Insurance Company

By Alexandra Kozinski, Coldwell Banker from Allstate Blog, edited by AC.

Couple in kitchen with paperwork using laptop
                          From Allstate Blog

Congratulations, you found it …your dream home! Before you celebrate and buy your homeowner insurance though, you first have to put in an offer and come to an agreed-upon price between you and the seller. As soon as you’ve done that, then you’re free to call George Jaffe, your local Allstate insurance agent or look for insurance companies.

Negotiating a purchase price on your new home can be a stressful part of the home buying process. Here are a few tips that will help you and your real estate professional strategize the best way to win the deal.

One situation that homebuyers may run into is finding out a seller has received multiple offers on a property they’re interested in. Cara Ameer, an agent with Coldwell Banker Vanguard Realty company, advises buyers to think about how serious they really are about the particular property. If you could easily move on and continue the search for a new home, it may be best to walk away from a bidding war that could result in spending much more than you originally planned.

If the home really is “the one,” something called an escalatory addendum can be used. Ameer explains that this agreement states you will exceed the highest offer up to a certain dollar amount. Remember, if you are taking out a mortgage, you are buying into a monthly payment, so be sure you consider how your bid may affect your monthly payment. Your mortgage adviser can assist with this. Your insurance company can assist you with other

The closing date can also be a deciding factor in one offer being accepted over another. This is where flexibility is key. If your needs match up with the ideal timing for the sellers, this can help seal the deal. Your agent will be able to speak with the sellers to find out what works best for them and relay that information to you.

Ultimately, Ameer says that an offer is simply an invitation to get a conversation going. Hiring a qualified agent who can help you navigate through these conversations can help you land a dream home at a price you are comfortable with.

One all that is done, you can look for your perfect insurance company, or bundle an existing policy. Price is important, but also check to see how much coverage you get for that price and if there are any rewards to being a member of that insurance group. George Jaffe, a licensed insurance agent based out of Charlottesville, can help you figure out details of your insurance option.

His website is below:


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