Buying a home and that too for the first time is quite a tedious process. From property search to loan sanctioning to final purchase, a homebuyer has to cross various hurdles to finally become a proud property owner. One such step which again plays a crucial role in the buying process is negotiating the property price. Obviously, every homebuyer wants their home to cost them affordable, so to get this you have to be a little tricky.
Scroll down and know some of the key points wherein you can negotiate and cut down the price of the property so as to finalise the best deal:
As said, before buying any property, proper and well-defined research about the property prices in the area is necessary. This will help you in comparing the current rate and trend as well as what the builder is offering. Once done with this, you can easily negotiate the price to the best one.
You should also research market dynamics. Must check whether it is a performing or a non-performing market for a buyer as well as a seller.
Offer the Correct Price
Don’t offer an unrealistically low price to the dealer that may take away a good property from your hand. You can also take help from an expert and understand the trend in the area.
The Seller’s Need
Suppose the seller needs urgent money and wants to sell the property immediately, then you can use this opportunity to negotiate the property price. This will help you in getting the best deal at much lower and budget-friendly rates.
For example, if the home is on loan and the seller is unable to pay the EMIs due to financial crunch, then he/she can easily give their approval for the negotiation.
Most of the time sellers or developers favour those buyers who are ready to purchase the property by paying cash or those who have a pre-sanctioned loan. In that case, a buyer has a good option to negotiate with the property price.
Ask for ‘Extras’
In case, the seller doesn’t want to negotiate the property price, you can ask for some other benefits. For example, If the home needs repairs or some amount of renovation, in that case, you can ask for a free home-maintenance for the next year.
Advantage of Flaws
The importance of property research comes here. Scan through all the elements and every inch of the property as well as the unit. Find flaws in it and take advantage while negotiating the property price.
Purchase home via an Authorized Channel Partner (CP)
An authorized channel partner helps in getting the best deal for both the buyer and the seller. Their tricky negotiation skills help you in landing with the best price deal for your dream home. Today, there are many authorized channel partner present in the market. Take help from anyone.
Follow these easy tips and get the best property deal.
Also Read : A complete Buying Guide for Young Homebuyers