Below, a series of recommendations or tricks to buy a good-priced apartment at a time of crisis like the one that currently lives in the real estate market are listed we buy houses.
Make sure you can pay for housing
It sounds obvious, but it would not be the first time someone makes an offer for a home and then cannot afford it. Therefore, before putting an offer on the table, you have to be very, very sure that you can pay it, this means that you have the money, that you have already sold your old house or that you have the mortgage
Will it be an investment or your usual home?
If the purchase is purely for investment, you will only have to think in terms of rent yield (try to reach and possible increase in the price of the house), you must be aggressive in the final price, without sentimentality. to live for 10 years or more, you can be a little more flexible if it is the house of your dreams, although you should always ask yourself if you can cover all the expenses of that house, especially if it is a big leap from your previous home
Do not buy until you have your house practically sold
Until you have your house sold, you will not know how much you will get for it. Therefore, it is better not to make offers during that period. In fact, some real estate refuses to teach houses to people in these circumstances. And is that despite the generalized price decline, there are still people who do not accept that their home has fallen in price, but they are making tremendous offers downwards for real estate that interests them
Weigh what you want from the property
Is the price the only thing that interests you on the floor? Now more than ever you should think about what interests you in a home and choose. Before, it was only recommended to follow the rule of the three ls (location, location and location), but now in the recession period we are talking about the three p’s (position, price and perfection). The houses that have gone down the most are not necessarily the ones that have the best price. Although there will always be room for negotiation, the best homes will have lost less value. Therefore, we must choose what we want (transport, services …)
Find out how far you can lower the price
The best way to make an offer is not to do it. We have to make out that we will do it, but we will let some time pass to let the real estate agent get excited. Meanwhile, we will find out more about the property and the owner of the house that interests us. The time it takes in the market, the level of desperation of the seller, how many offers he has received and how many he has rejected … one must be curious without being rude to make an offer adjusted to the downside, which will probably be rejected, but if it is realistic can be a touchstone from which to start the negotiation
Make your offer
You are more likely to accept an offer if the seller has already suffered some disappointment in the form of withdrawal of interested buyers or near certain dates, such as Christmas. It is also important to try to find out if the seller at sight important dates, such as a job change or need to apply for college or other service in another location. They also tend to be more receptive if they have psychological times with housing for sale, for example one year
Accommodate the seller
Make an offer to the downside, but be prepared to accommodate the terms of the seller’s calendar, which may need the house a few months before delivering it to you. That can give you significant savings because it will save you a rent. In addition, you must be educated and show your admiration for the improvements that the seller has made, even if you tell him that you have to include in your offer a cost of reforms of other things
Should you practice the gazunder?
In the United Kingdom, no contract is signed through writing, so some people lower their offer or haggle at the last minute. In times past in which the price of the house did not stop raising the opposite happened, that the sellers would go to the buyer at the last moment saying that they had another higher offer and they agreed if they did not match that offer. Here there are opinions for all tastes. While some recommend not doing it because it is unethical, others point out that business ethics are in the price and that if the price continues to fall until the agreement, it should be possible to adjust the value of the transaction.
If you bargain at the last minute.
If you decide to withdraw your initial offer, make sure you have prepared reasons to justify that change and give the agent time to negotiate with other people interested in the property. Otherwise it takes more than a whiff of blackmail and may mean that the seller withdraws from the sale completely. Be prepared to lose property if it is a bluff
be ready to close the operation
Finally, make sure that you are really willing to move forward and close the agreement quickly if there is an understanding. Have everything at hand and prepared not to delay the process.