After a visit, you feel a real attraction for the property you have discovered, you think it is a great opportunity. Logically, it is time for you to start negotiations by making your first offer to purchase. How to proceed at this time? With what arguments can you support your proposal, when it is lower than the selling price? Quite naturally, at this moment, you will have to show that you are listening to the advice of your real estate agent, who will be able to perfectly guide you to help you become the owner of the property in the best conditions.
Organize a new visit to reinforce your arguments
In a single visit, even if you felt a real crush or appreciated the property enough to position yourself on an offer, you lack the keys to a well conducted negotiation. We recommend that you organise a second visit, to take a more critical look at this opportunity, confirm the positive points that caught your attention – and highlight any defects that could help you lower the price.
If you are targeting a house or apartment involving renovation work, do not hesitate to bring an architect or site manager with you for the counter-visit. He will be able to give you a clear idea of the price to pay for rehabilitations, which will naturally be a strong argument in the negotiations.
“If you are targeting a house or apartment involving renovation work, do not hesitate to bring an architect or site manager with you for the counter-visit.”
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Analyse the market to estimate the real value of the property
There is always a gap between the sale price and the real value of the property, particularly because the seller expects the buyer to attempt negotiations. A dwelling can be overvalued for various reasons, and you must take the time to identify the true value of the house or apartment you desire.
To do this, bring a real estate agent with you: he knows the market perfectly well, and also masters the geographical area in which he works. Very easily, the agent will be able to give you an idea of the price on which you can position yourself without too much risk of compromising your chances.
Identify the context of the sale
To know if you can really afford to lower the price, you need to know the context of the sale. For example, if the owner is in a hurry to close the deal, he or she will agree to make more concessions on the rate to be paid. If you have the opportunity to meet with him and can ask him some questions, try to find out the reasons for the sale: they can, in some cases, help you to negotiate.
“If the owner is in a hurry to close the deal, he will agree to make more concessions on the rate to be paid.”
In addition, a property that has been on sale for several months will be easier to negotiate than a house that has just been put on the market. In this sense, ask your real estate agent how long the announcement has been in existence (or use your previous research to find the information yourself).
Be careful, negotiations are not possible in all cases: sometimes, the opportunity must be seized as it is, because the seller can receive several different offers and benefit from a wide choice , because his property attracts many suitors. So, before you position yourself on a price lower than the sales price, be sure to read all the criteria mentioned in this article, and do not proceed without the help of a real estate specialist.
