House buying in Liverpool- How to negotiate?
Getting the best price when buying a home is the goal of all those who are looking for a new home. The truth is that there are no secrets, but some aspects that, well analysed, can help negotiate a better price:
Study of the price of house buying in the area
Once you have a clear view of the home you would like to live in, you should make an analysis of the price of the area using real estate properties that are as similar as possible. In this way you will check if the house is or not in market price.
Do not reveal your true intentions eagerly
On a first visit, and no matter how much you like the home, avoid showing it. The advisable thing is to take advantage of that time to establish the possibilities of negotiation: how much it has for sale, why the apartment is sold, how many people have seen it, how many second visits has it received, if there has been any offer.
Make a logical offer
If you have it clear, go to the offer. But remember, one thing is to negotiate, another to bargain and another to offend. It is necessary to argue why, and for this it is good to know the market and have financial capacity. Put the focus on the defects -but without bothering- and also assess the investment needs. Check if the building and the floor need works or if spills are foreseen. If the floor interests you, this can help you lower the price.
Check how long the house has been for sale
The psychological factor plays a very important role -especially in second-hand house buying- so we must check whether the sale is urgent and what is due: lack of liquidity, inheritance or other reasons. In these cases it is usually easier to get a price reduction. The origin of the property can be seen in the Land Registry.
Show that you can buy the house
A factor that helps when negotiating the price is to prove economic solvency, that you have a pre-agreed mortgage or that it is possible to pay a large part of the cash. This provides security to the seller, who still prefers to lower the price and avoid problems with another buyer who cannot get the mortgage.
Be flexible with delivery times
Take into account the temporary needs of the seller. Many people, when moving houses, want to sell one and buy another one at a time. That is, to balance both operations to reduce risks and mortgages or also to reform the new house before entering. For all this, consider (if the situation allows) the possibility of giving the seller a deadline in the delivery of the house after the sale in exchange for a discount.
Insist, be patient and agile in the negotiation
If they have rejected the first offer, do not throw in the towel; the opportunity can come at any time. It can also happen that the home you like has a high initial price. If so, do not lose sight of it, because its price could be adjusted. And it is that if a proprietor verifies that it does not receive any offer, it might be asking for a price above the market and, sooner or later, it will have to lower it. If that happens, in that moment you must be very agile in the negotiation.
These tips will come handy if you want to buy the dream house at right prices in current market.
[ Posted on : Aug, 7 , 2018 ]