Simple Negotiating Tricks Can Save Thousands on a Property Purchase There are plenty of bargains on offer for anyone purchasing an investment property, especially in certain locations and price brackets. When an astute investor combines these factors with negotiating skills, the selling price is likely to be thousands below what was originally being asked. Negotiating a deal is like playing cards and the negotiator who knows when to withhold information and when to offer it will usually come out with the best price. Look Cool and Unhurried, Even if You are Not Here are a few negotiating tips that can make quite a difference to the final price if done well. The first one is to give the appearance of having plenty of time to complete the transaction, even if that is not so. If the agent knows you are in a rush to acquire an investment property, you lose an advantage. All the agent really needs to know is that you are financially ready, and you would like a quick settlement. However, getting a good real estate property at the right price is the top priority. The second one requires a bit of homework on the part of the buyer. Information is always king, especially in real estate Illawarra, so the time taken to collect it will be well spent. The goal is to find out information about the property that could lower its value, for example, if it is close to a major highway and road noise at night is an issue. It could be that public transport is unreliable, or that the location is on the edge of a high crime suburb. Now is the Time to Find Faults There may be minor faults with the home itself that, when pointed out to the agent, makes a property less desirable than it is being presented. If it is tidy, but is next to a derelict building, point it out. If it is well presented outside, but the inside is shabby and needs new floor coverings, point it out. It may not rent well in an area where there is unemployment. There is no better way to convince sellers that their property is overpriced than to stress the negatives while acknowledging the positives. If you have just been shown the ideal property, remember the card game and keep them close to your chest. Donâ€™t indicate at this early stage that this is what you have been looking for. Instead, ask a few questions and keep the answers ready in your mind for future negotiating ammunition. Ask things like how many other people have viewed the property, why it is being sold and the length of time it has been on the market. Find out if the asking price has been reduced since the property was listed, and also if the agent knows of any problems or defects. This is all part of
being well prepared so when you are finally ready to make an offer, you have lots of information as leverage. Click here . http://www.realestatewollongongnsw.com.au
Published on May 21, 2013
Published on May 21, 2013
Just a few simple suggestions can slash thousands of dollars off the asking price of an investment property. A knowledgeable investor wants...