Making that final decision to buy a property can bring a little anxiety out in anyone. With other bidders, real estate agents and nerves about the size of your investment, it makes sense!
Here are some tips to make the thought of negotiating the purchase a little less daunting.
- Knowledge is key – do your research and know what the property is worth. Check out the selling price of similar properties in the area and talk to friends and family.
- Don’t put your best offer first. You can always raise your offer if the seller doesn’t accept the first one.
- If your first offer is declined, ask the seller’s to put a counter-offer on the table to bring them to get them involved in negotiations.
- Be prepared to bargain – the asking price is the seller ideal price, but they may be prepared to sell for less.
- Keep your emotions out of the negotiations – it can be a slightly stressful time, particularly if you have your heart set on a property. But, you’ll achieve a better result if you put forward a fair and logical argument rather than an emotional one.
- Know when to walk away – if you have clear goals and limits, you shouldn’t buy beyond your means. Know that there’ll be something else out there, just waiting for you.
Explore our Home Buyer hub for other tips and recommendations for when you're planning to buy.
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