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Learn the Art of Negotiation When Buying a Property!

10/08/2018

negotiate-when-buying-a-property

Once a buyer finds the home of his choice, he should know the art of negotiation with the seller efficiently. Pro property investors, who have been in the business of buying and selling for years, still say that the learning phase never gets over in real estate sector. It becomes even more difficult for the new buyers, so they need help of experts for proper negotiations. Here are some tips given by the experts that can prove to be fruitful, once you follow them.

Leave some space for the seller

Some buyers try to squeeze the deal up to that level where the seller finds nothing and can reject your offer at the end. Keep your pace smooth and increase the prize from bottom slowly and steadily to give a walkover to the seller.

Keep the negotiations simple

Do not try to include the negligible things in the discussion. If you like the property, you can accept it with all deficiencies, so if you will add itchy bitchy in it, you will take the deal far away from closing so keep the negotiations simple and smooth.

Keep yourself on a legal track

Try to convey your message that all your offers will be "subject to contract" and "subject to survey". Keep a property agent with you to make sure that all legal obligations are being fulfilled and there are no legal loopholes during the negotiations.

Be prepared for a deal

Do all your homework before sitting for negotiations. There are always chances of the deal, so arrange the required funds before sitting; otherwise you can lose the deal, although you have won the negotiations. Try to keep solicitors or property agents in Pakistan with you because they will fulfill all the required legal requirements immediately.

Fulfill your promises

To close the deal in a friendly way, try to fulfill all your promises within the time. If you will change your opinions again and again, the seller and his companions will consider you an unreliable buyer.

Show your professionalism

Whether you are a new buyer or have a huge experience, do not show that you are not a professional. Deal your seller professionally and confidently as you will become the preference of the sellers and they love to work with professionals.

Follow up

Please be sure that everything, which is written, must be in your knowledge and if there is some misunderstanding, you need to follow, otherwise can lose some benefits and face circumstances.

Negotiate on the market price

Try to keep yourself attached with the market price. If you know that seller is demanding much higher, you must try not to fulfill his requirements in any case.

Be nice

Keep yourself in all the negotiations nice, friendly and smiley. It will play a major role in reaching at some fruitful results.