The Top 5 Real Estate Negotiation Tips

When buying a property, it’s important to know what to do when in the negotiation process. Today, we are giving you the top five tips to remember when negotiating your property price.

• Ask Questions

Ask questions to figure out the vendor’s position. Why are they moving from this property? Ask for any repairs you think are needed. What are they wanting to get out of the deal? Questions about your future home are important to ensure your happiness in your new home! If you’re wondering about it, don’t be afraid to ask!

• Research compatible properties in the area

Make sure to research the surrounding area and neighbourhood to make sure you’re getting your money’s worth. Look at similar homes in surrounding neighbourhoods to ensure that your property value won’t go down in the future. In addition, make sure you are buying a home that will grow with you and your family in the future!

It’s also important to look up surrounding schools and workplaces if that is something you need to consider. It’s always important to plan proximity and location to your future workplaces and schools!

3. Keep clean and short terms

When negotiating your offer, you want to make sure you’re not overwhelming your seller with a lot of terms and conditions. Keeping it simple makes your contract easier to accept and finalize, making it a better option for the seller. But, don’t forget to ask for what you are looking for as well. It’s fine balance, but an important one!

4. Put time frames on offer

Putting a short time frame on an offer gives you the security of no other offers possibly being made. Set your time frame to around 24-72 hours to give your sellers time to think over your offer and accept before any others come in. If you’re serious about buying a home, be prepared to move quickly when you find the perfect one.

5. Avoid emotions

Avoiding emotion makes you look like a firm and serious buyer. If you let the stress of buying a home take over, it could possibly jeopardize your chance of closing. Emotions also play into the budget when finding your “dream home”. Don’t get boxed into a price that’s above your comfort zone and budget. Be firm and don’t let your want to lock down on a home take over what you can afford. It may be the perfect home, but it has to be perfect financially too.

To ensure you buy the right property at the right price give our team a call now on 1300 117 561