You don’t buy a house or an apartment every day. When you have found an interesting object, it is worth preparing well for contractual negotiations. We have the tips for buying a house successfully.
You don’t buy a house or an apartment every day. Therefore, it makes sense to prepare for negotiations. The seller has set a sale price. He wants to collect as much as possible for his house or apartment. However, you want to pay as little as possible. As is often the case, a compromise has to be found between the two. For price negotiations, you need good arguments why you want to pay less. These preparations will cost you time and money, but it is absolutely worth it. For collateral of 80% and a mortgage rate of 3%, this corresponds to two years of mortgage interest. The real estate guides are there with the perfect ways now.
The main thing is to be well informed
First, get an idea of the prices on the market. Compare the house or apartment in question with offers of similar properties located in the same neighborhood, published in the newspaper or online. Ask the building office or local real estate agents about average property prices per square meter and ask neighbors. They often know at what price comparable houses or dwellings were sold in the neighborhood.
Study in detail the object of your lust
If possible, use the services of an expert who will estimate any renovation work and offer a reasonable price. If it is lower than the purchase price, state your arguments justifying a drop in the price, such as for example the presence of humidity in the cellar or certain rooms, the noise of road or air traffic nearby or the insufficiency of the insulation of the facade .
Don’t buy while under pressure
Now negotiations can begin. The most important thing is to allow yourself time and not to make hasty decisions. A broker’s maxim sums it up in these terms “If we regret a missed real estate purchase for a week at most, we regret a lifelong thoughtless acquisition”.
Negotiate based on negotiating position
Try to define the seller’s bargaining power. How does he react when you start to list your arguments for a price reduction? If he refuses, it is because there may really still be other people interested. On the other hand, if he makes concessions, without arguing, it means that you are in a better position. He is probably forced to sell because he is short of money or because the object is already (too) long on sale.