5 Negotiation Tips For Final Deal Price Of Property

deal price of propertyAre you about to buy a new home? Well, your home is certainly one of your biggest treasures and surely one of the biggest investments of your life. Many amateur homeowners are so emotionally carried away by the dream of having their own homes that they finally end up paying an unnecessary exorbitant rate. Make sure your emotions do not get to blindfold you when it comes to ensuring a smart negotiation on the final property deal. There are various strategies to mind while you are out on negotiation. Yes, you will have your broker with you to handle the negotiation affairs but it’s better that you too are ready with your homework.

1. Market study

Before you go out to argue on the selling price you must be careful about the present market scenario. The experts always advise to a thorough market research on similar type of properties so that you can have an average idea on their rates. If you can locate homes selling at significantly lower rates per sq.ft, then print out the information to utilize it during negotiation with the seller.

2. Don’t be too enthusiastic

This is one of the vital points to remember while you are negotiating for the final property deal. Even if you have got your dream home you should be reserved about your enthusiasm and keep it secret from the seller. If the seller somehow gets a clue about your enthusiasm then he can easily pose an exorbitant rate on the property, taking advantage of your emotions. So you should keep close guard on your motivation.

3. Understand seller’s motivation

You should try hard to understand the seller’s motivation. For example, if the seller is soon to move to a new place he will be in a hurry to sell off the property as early as possible. In that case he won’t waste much time on negotiation and might succumb to your offer as well. But then if the seller is not in a hurry to move out soon, you might have a hard time negotiating.

4. Estimate cost of repairs

This is another major tip to mind while you are looking for a smart negotiation on the property price. You would have to estimate cost of all necessary repair works on the property which you would need to meet after the acquisition. The aspiring buyer here can submit the estimate to the seller & request the sale to be contingent on completion of these repairs. In case, you want to get the improvement works done later, ask for a price deduction on the property. You must get a neutral thorough home inspection to find out all the needed improvement areas, including the hidden ones.

5. No insulting offer

Finally, it’s okay to bargain but never be too cheap with the offer. Many a times, over-smart amateur home buyers have lost out on some really potential homes given their negligence towards a really reasonable deal. The maxim here is to be reasonable with due respect to your budget.

5 Things To Remember Before Hiring A Home Inspector

Home InspectorA thorough home inspection is mandatory when you are planning to buy a new house. The sellers do not always highlight all the property defects and hence you must be careful to get a complete verification of the home to stay alert on all the shortcomings and chances of repair. In fact, it’s the inspection result which holds a tremendous influence on the buying price. Thus, your home inspector plays quite a significant part in your home buying decision and you have to be very cautious in selecting the right professional for it. There are a number of factors to keep in mind while you are looking for a reliable home inspector.

Market survey

There is no dearth of home inspectors in the market but not all can assure you complete satisfaction. According to experts, you must take a market survey on at least 5-6 potential home inspectors around before you zero in on one. You have to study their industry reputation and don’t forget to check the customer testimonials. The one you take to must be the most reputed of the lot, backed by a long list of content clientele. Make sure to check the license as well to guarantee a completely legit service.

Full time inspector

There are both full time and part time inspectors. Full time inspectors are more trustworthy than their part-time counterparts as a full time job implies better commitment & hence premium inspection. If you are looking for best inspection results, do not look beyond full-time inspectors.

Comprehensive inspection

Make sure that your chosen home inspector is ready to support you with a complete inspection coverage of the entire home. This includes the home exterior, windows, doors, walls, roof, foundation, basement, attic, crawl spaces and garage. Moreover the inspection must also encompass the electrical & plumbing components of the house such as the wires, AC, water heaters & central heating.

Seasoned & dynamic

Home inspection is a perplex affair that demands extensive professional knowledge. It’s suggested that you should always take to seasoned home inspectors, backed by more than 5 years of full-time home inspection knowledge. He should be equipped with all necessary certifications and credentials. Apart from being an experienced professional, the best inspectors are always updating themselves on the latest inspection nuances and equipments. The one you take to should be a dynamic pro who is regular with the advanced home inspection courses and tools to guarantee an edgy service for you.

Easily readable detailed reports

This is another very crucial point to remember while you are looking for a good home inspector. The inspector must support you with an elaborate report on every aspect of the house and that too in easily legible language. An ideal report usually carries 20-50 pages, packed with colored vivid images of defects highlighted. Any report with less than ten pages shows inadequate qualification of the inspector. Thus you should make sure to check out the previous inspection reports drafted by the professional while inspecting homes for previous clients.