In this environment its nomal to want a deal when buying a home or investment property.
If you are one of the lucky few that have a secure job and have saved....this one's for YOU!
1-Meet with real estate agent and understand the costs and what is involved.
2-Create your budget and add 10% to it for negotiability.
3-Be flexible about location and details like amenities, condition etc.
4-View alot (20-30 or so) properties in your budget and similar location.
5-Make offers
Ok...so some of you are wondering what's different than normal?
Usually in a normal market people see 7-10 properties before making a decision because technology has given us more information and power to make the process alot easier. These days people are seeing alot more property AND making alot more offers.
Seeing alot of property in a small window of time in several similar areas is crucial. Bidding on several properties is really the only way to test many sellers' willingness or neediness to negotiate or sell! So, we are looking for people who NEED to sell- not those who are testing the waters only to sell if they get their price. The "test and see" mentality by sellers is very 2006 and very NORMAL.
Why? Human nature. It takes humans a while to digest information and come to terms with something they may not really like. Buyers, remember when the market was hot? Many of you remember losing several properties because they wanted to own but didn't want to come to terms that the market was so hot that they needed to pay full price or even more...
Sellers feel exactly thesame and don't want to part with any possible equity in their property-you'll see it when it's your turn to sell!
We humans always want to feel we got the best deal. How do we do that? By NEGOTIATING! Sellers want MORE, buyers want LESS-the opposite mentality where someone needs to bring them together or there's no sale! That's why you need a really good agent with alot of experience that makes the time for you...that can sniff out the deals(based on comps in buildings), market knowledge and personal buying and selling experience.
A property is not a deal if the price per square foot is low...but its dark and in poor condition UNLESS its priced way below the apples to apples comparison in that building or area....a good agent will know!
Did you know many new developments are offering to pay closing costs, negotiate their prices and throw in freebies? These brand new homes can be great deals...especially the ones with tax abatements...which will keep costs low for many years!
Wanna hear more?
Call 917 658 4755 to schedule your deal finding consultation!
Great blog- this looks very professional. Thanks for bringing this all together in one post!
Deirdre G
Posted by: Real estate Philippines | April 19, 2010 at 01:31 AM