Negotiating a real estate deal is not an easy task. One should have good negotiating skills and the ability to convince the sellers of the property to your or mutual terms or services. Here are few tips on basic rules of negotiations for real estate.Rule no. 1 – Never show too much interest to buy.One of the common mistakes which many buyers do while buying or renting a property. Whenever you see a property with or without an agent always remain calm, whether you love the property or hate it. Be inquisitive, not curious. If you are seeing the property with your partner, never talk to him or her about the things you love about each room. Giving messages through eye contact to your partner is also not advisable as in most cases the seller is smarter than you think he is. Moreover he also has the upper hand if he is not too desperate to sell his property. If the property is genuinely good, be patient and see the entire property at ease. Always have a second or third round of meeting in case you like the property.Rule no. 2 – Do not take hasty and fast decisionsAlthough you have the money in hand to buy the property almost instantly, or maybe your property loan is preapproved, be patient on taking a decision. Never start negotiating on the first day. If you do, you will sound desperate to buy. Tell the seller that you would like to see the property one more time with your parents or friend. Take a couple of site visits before you actually tell the seller that yes I am interested to buy provided it is in my budget and all terms are met. This discussion can also happen over the phone and need not be necessarily in person.Rule no. 3 – Do not get influencedIt is the seller’s job to tell you stories on how many proposals and offers he has got from other buyers. Never get under the influence of this sales talk. Buying a property is not like buying a fish from the market. At an average, there is a process of atleast 6-8 weeks or maybe more before any property is transacted. Always be calm and be crystal clear with your offer. Think of a small margin to push your budget. Define a maximum limit you can exceed upto.Rule no. 4 – Get detailed informationEven though you have loved the property and have made up your mind to buy it almost instantly, you have to make sure you get answers to all the questions related to the property and the surroundings as well. Here are some of the questions which are popularly missed out.1. Is there any electricity and water shortage in the building or society?2. Are the taxes and bills regularly paid? If yes, request a latest receipt?3. is there any construction coming up in the neighboring plot of your property, which may block your view or invade your privacy?4. What are the Annual maintenance charges of the society or apartments?5. Ask for construction specifications like the kind of material used for internal electrical wiring, pipeline, plumbing etc.6. Make sure you get mobile connectivity in each corner of the property.7. Ask if there is any two wheeler or four wheeler parking assigned. Check it out physically.8. Ask about security timings and guard regularities?9. Ask details about the neighbors.10. Ask about the seller’s family, just to make sure if there is no situation which would make a family member to claim ownership of the property he/she is selling.You may also want to talk to your neighbors (to-be) or other random residents and also the society chairman just to make sure everyone is sailing smoothly in the premises.Rule no. 5 – Do not over commitJust so that you loved the property so much and you are willing to do anything to acquire it, never over commit. Sometimes it can go in the wrong direction and the seller may call of the deal instantly. Make sure your terms and conditions of payments and the date of signing the final agreement is fixed. Once these terms are committed, changing them is not a good idea and it can lead to lethal arguments.Rule no. 6 – Study the market rateBefore determining a price of the property or coming down to a conclusion make sure you know the range of market price of that area. If you are new to the area, get in touch with real estate agents nearby and ask a couple of them and cross check. Pricing difference between old and new properties can be significant. Pricing also depends on the Builder name and his reputation in the real estate industry. Following are some points that may affect property prices by 5-10%.
- Floor
- Direction of entrance (for vastu compliance)
- Parking allotment
- Builder name
- Society or Apartment
- Road network
- Age of Usage
- Furniture
- View from balconies and terrace
- Privacy
- Security
Taking these 6 rules of negotiations into consideration, you are likely to get a good property at reasonable price. Happy property shopping!займ на карту без отказов круглосуточновзять кредит онлайн