One thing I always have to remind Real Estate Buyers and Sellers when negotating a deal on their dream home is to put the purchase price into perspective. What I mean by that is, when you are negotiating on a multi-hundred thousand dollar home, the last few thousand dollars really make next to no impact on your financing. Don't get me wrong, I am all about negotiating the best deal. But it all comes down to the monthly payment. I have been involved in many negotations where the Sellers won't accept anything less that X and buyers won't pay anything more than $2000 less than X. With current mortgage rates at about three and a half percent, that works out to about $10 per month extra. I've worked with clients who were willing to walk away from purchasing a home for $10 per month. That is the question I pose to my clients. "Are you willing to lose your dream home for $10 per month".
I do understand that there are different perspectives to every situation and there are some people who say "I have a top value I am willing to pay and not a penny more". I respect the discipline, but I never hesitate to pose the above question. In most cases, the client realizes a few thousand dollars is trivial in the long run and go ahead with the purchase.