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.