Negotiating is key to getting the best value for your money when buying a home. It is a crucial part of the home-buying journey, and without it, you could end up paying more than what’s fair.

You don’t need to be a high-level negotiator to secure the home of your dreams, but knowing how to bargain can sometimes get you a better deal than you expected. And who doesn’t like saving money?

To help you score the best price for your dream home, here are eight tips for negotiating like a pro:

1. Do Your Homework

To negotiate effectively, you need to understand current market trends and prices. Familiarize yourself with the local market and learn the fair value of the home you’re interested in. Websites like Zillow and Redfin can provide valuable insights into comparable sales in the area. Being well-informed will give you confidence and credibility during negotiations.

2. Get Pre-Approved for a Mortgage

One of the most powerful tools in your negotiation arsenal is a pre-approval letter for a mortgage. This shows sellers that you’re a serious buyer with financing already in place, giving you an edge over other potential buyers. Sellers are more likely to negotiate with someone ready to make a move.

3. Start with a Reasonable Offer

When making an offer, aim for a fair price based on your research. Starting with a lowball offer might alienate the seller and lead to unproductive negotiations. Instead, begin with a reasonable offer that opens the door to constructive dialogue. Remember, the initial offer is just the starting point; the goal is to reach a price that works for both parties.

4. Highlight Your Strengths as a Buyer

If you’re flexible with your move-in dates or can close quickly, make sure that the seller knows. These factors can attract sellers who are looking to move fast or have specific constraints, giving you additional leverage in negotiations.

5. Be Ready to Compromise

Negotiation is a two-way street; while you may have a target price in mind, the seller may not agree. Be prepared to meet halfway. If you can’t agree on a price, consider negotiating for other benefits, such as covering closing costs or requesting repairs. Flexibility is key to finding a mutually agreeable solution.

6. Use the Inspection to Your Advantage

Schedule a home inspection once your offer is accepted and the home goes under contract. If the inspection uncovers any issues, use them as leverage to negotiate a better price or request that the seller makes repairs. This ensures you’re paying a fair price based on the true condition of the home.

7. Work with a Real Estate Agent

A skilled real estate agent can be invaluable during negotiations. With experience and knowledge of the local market, they can help secure a great deal. Plus, they can handle the back-and-forth communication, allowing you to stay focused on your goals.

8. Know When to Walk Away

If the negotiations aren’t leading to a deal that works for you, it’s okay to walk away. Buying a home is a significant financial decision, and you shouldn’t feel obligated to accept terms that don’t meet your needs. Remember, there’s always another property out there. Be patient, and the right home at the right price will come along. Don’t settle for less than what you truly want.