Bargaining for Your Property

When it’s time to buy or rent a new home, there are a few things you want to keep in mind. Before we even get into these tips, it’s important to understand that the real estate business is just like any other business – anything can be negotiated. The last thing you want to do is look at a property for sale and accept the price right away. If you do that, then you will most likely lose out on an opportunity to save thousands of dollars, possibly tens of thousands of dollars. Walking into a deal and demanding a price of your own would be nice, but it’s not that easy.

When you’re looking at a house for sale, be sure that you do significant research on the surrounding properties prior to meeting with the seller or a real estate agent. Find out the average square footage, acreage and number of bedrooms and bathrooms. Also find out what features are popular in these homes, such as hardwood flooring, custom cabinetry and kitchen islands. By having this information at your immediate disposal during negotiations, you will have a lot more firepower. For example, if the seller attempts to mention why his home is worth more, you can give an example of a similar home in the area that offers more features and costs less. Don’t be rude about it, though. While they might have their house for sale, they’re not going to want to sell it to someone they don’t like. There is a fine line between pushy and firm negotiations. Always keep the tone friendly. If the seller likes you, they’re more likely to budge on the price. Human emotion should never be underestimated in any type of deal.

This also applies to situations where you’re looking at a house for rent. Think about how much money you can save if your landlord likes you. A great approach here is to invite the landlord for a cup of coffee. If he accepts, you will establish a relationship and have an excellent opportunity to knock the rent down. In cases like these, you usually don’t even have to offer. They will knock the rent down for you. Take the same approach if you’re looking at an apartment for rent.

If you’re looking for a condominium or bungalow and you want to receive a lower price, then it’s recommended that you visit the properties. Once you find a place you like, first mention to the seller that you like it. This indicates to them that there’s potential for a sale. After that, stress a couple of things that really bother you about the property. This will be used to knock the price down. Whether it’s a home, condominium, bungalow or apartment for sale, this tactic is highly effective.

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