Advices on how to negotiate the price of a real estate

When you are looking to buy an apartment, you have to know how to negotiate to get in the end even great discounts. To do this, you should keep in mind several factors involved in the discussions with the seller of your wanted apartment. Here are some advices on how to negotiate the price:

 

  • Stay in touch with the general trends of the market: To use effectively all the possibilities available, you need to know the market trends. For example, in times of crisis there is a decrease in the real estate market, thus, the owners who sold their apartments had lower expectations about the price they could get. With proper negotiation, you can get a price with 10-15% lower compared to the initial one requested by the seller. If you’re abreast with the changes in the apartments market, you can use them effectively to negotiate a better price.
  • Consider the location and the year of construction: Another thing you need to have it in mind is to have information on the prices depending on the location and according to the year of construction.
  • Find the weaknesses that can bring you cuts in the price: If you are interested in an apartment and you want to buy it, find its weak points not only to know what to do in the future for renovation, for example, but also to have arguments in negotiation. Here are some issues and disadvantages of the apartment that you can use as arguments to pay less to the seller: building with few parking places; difficult access to public transportation; lack of green areas, supermarkets, pharmacies, markets, schools, hospitals, near the location; north-facing apartment and so on.
  • Such issues can bring you reductions at the initial price announced by the seller.
  • Invoke the direct negotiation: When you negotiate alone an apartment, use this advantage, explaining why you ask that price, considering that there isn’t an agency commission.
  • Find owners of apartments that are on the g: You are more likely to negotiate the price you want with an owner who is on the go. There may be people who are moving to a house or go out of town or even leave the country. If they are in a rush, you could use this in your favor, exposing your arguments to convince them to close the deal.