Know How To Negotiate Property Purchase?

Q: Buying a real estate property is a pretty expensive transaction and thus it is important to make the right decision. Several factors determine the price of the property like the demand it has in the location and the nature of the defect it has. The price of the property is increasing steadily and thus it is important to determine the present value of the piece. To lock down the best deal, you can follow certain tips and negotiate over the price better. Before making any purchase, you need to know about the builder from the reviews and the feedbacks. If there is any Cheating Case Against Builder filed in the past, you must refrain from choosing that builder.

Priya Jain,

23rd September 2017

Investment Advice in Green Woods, Andheri East, Mumbai

how to negotiate on property purchase?

how to negotiate property deals?

tips for negotiating property deals

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Replies (3)

Those who are looking for price negotiation, they have now more chance of getting a fair price. Since the developers are moving through the phase of liquidity, the home sales are sluggish and sellers are more open to negotiation. In the present market, there is more inventory of property when compared to the number of buyers and thus you have chance for innovative negotiation with the developers.

Priya Jain,

28th September 2017

Comment

Hi folks,
The first and foremost rule to negotiate property deals is to find out whether its a buyers market or sellers market. In buyers market, Sellers are more & buyers are less whereas in a sellers market, buyers are more & sellers are less. In a sellers market, the probability of negotiating property deals is negligible whereas in a buyers market you can get good rates from the sellers.

Gangasagar Patil, Mumbai

27th September 2017

Comment

Hello Priya,
In the current market where there is huge inventory pile up of new properties than buyers, there is room for innovative negotiations with developers. Knowledge about the local market will make you well-equipped to bring the developer to the negotiating table. It is your sole duty to find out the prices of similar properties in the area. An analysis of prices is a must. Find out the launch price and compare it with the latest price. Enquire about the price trend from local brokers, who will be able to give you an idea about how much discount you can expect on the quoted price.

Bikram, Mumbai

27th September 2017

Comment

I am agree with Bikram. Apart from that, a person who has bought a house in the project is also likely to give you the real picture of the discount you can expect from the developer.

I am simply telling you that two factors that play a major role in price negotiation are the cash-flow situation of the builder and the number of units he needs to sell. Later, you can decide yourself.

Vineet Tendulkar, Mumbai

27th September 2017