Dec 13, 2010
Every buyer wants a bargain. Buying property at a bargaining price means initial deposit would be lower, financial payments lower and profits higher.
Buying property is hard work, without hard work, it is impossible to go get the property you want at a bargained price. View as many properties as you can, ideally 100 before buying one. The more you view, the greater chances of getting bargain.
Do not just stick to one agent. Talk to a few and listen to what they have to say. If the agent is proactive, work with them closely, those being proactive would also mean they are also doing the same with the sellers as well.
Going to auctions
Auctions are great way to find a bargain, but winning the auction might not necessary mean the price is at a bargain. So make sure you do not get carried away. It is best to do some research of the area and market price before you go for the auction so you know you're not going to end up paying more than what the market has to offer.
Be on standby
When estate agent calls you and informs you that there is a new property on the market and ask you to make your way down to view it, make sure you make your way down. It means, you will be the first to view the property and it would also show the agent you are serious and the next round, your agent will inform you first too. Of course, it'll be nice to know the location and area fits your needs. Hence communicating your needs to the agent will help make viewing more efficient.
Ignore the seller's price
Focus more on how much the property is worth rather than how much the seller is asking for. Often, if the price goes off a little more than what you budgeted for, the immediate reaction is to walk away. That shouldn't be case, instead, consider for a couple of days, weighing the potential of the property taking into account it's location, future developments around the estate and how that will affect the value of your potential buy.
Make an offer lower than the price you bargained for
Sellers often ask for prices that are overbroad but buyers do not get offended, so there is no harm raising the bars for a bit. There is nothing to be embarrassed about bargaining for your future home. Saving a little bit on the purchase price could equals a full bedroom set or a great kitchen.
The Seller's circumstances
If the seller has to move soon, he or she would usually accept a lower offer. This is a bargain that's on your side from the start. The sooner they seller has to move the faster they are willing to settle at a lower offer. However, do note the competition that may arise which can also lead to a fluctuated price based on demand.
Never give up
Be patient and be smart and you will get the bargain you want. It can be a long tedious process but you've got to believe in it long enough to see it. Remember some people take years to find that special place they call home, and getting it at a bargain.