Q: My fiancé found us a home and the sellers wanted $149,900 (if memory serves me correctly). He haggled them down to $145,000 and asked for the seller to pay 6 percent closing costs, but they would agree to only a 3 percent closing-cost credit. We've had the inspection, and everything has checked out. But now my fiancé is feeling as though he should have offered less than $145,000. My question to you is: Is it too late to renegotiate? We're new to this whole process of homebuying.

A: There are really two questions at issue here: Is it possible to renegotiate? And is it sensible to try to renegotiate? Whether or not it is possible, my advice is to manage your (and your fiancé's understandable, mild panic and fear that you might not have cut the absolute best deal possible without disrupting the entire transaction by trying to get a price reduction at this late date.  more...