Real Estate Investing - 6 Fresh Ideas to Get Desired Discounts When Buying a Property
If you are in the business of real estate investment, you want the sellers to offer you good discounts every time you buy a property.
The key thought is to look for a motivated seller and negotiate in such a way that would make the seller sell at a discounted rate.
This article provides with some fresh ideas to achieve the target of getting desired discounts.
Look around! Research is the foremost thing when it comes to real estate investment.
Make any deal after very prudent investigation.
Whether you are buying the property for personal use or not, set some priorities like if the property is close to your workplace, if the current market value is good, if it is good time to invest in property etc.
Look for a seller in need Once you find where to start from, look for a seller who is in immediate need to dispose off his property.
You can find such sellers through the classified section of newspaper, or through the internet.
The best thing, however, is to keep your eyes and ears open and alert.
Look for foreclosure as sometimes people want to sell their property in order to prevent foreclosure.
Negotiate softly Since the target is to get maximum discounts, try to soften the seller and make a good relationship with him.
Ask him the reason of his selling the property and such other things which would break the ice a little bit.
It is very important to understand the motivation of the seller, because it gives you an idea as to how to work with it to desired discounts.
Don't put the first offer Don't act foolishly and make the first offer.
For example if you say $10,000 for a certain piece of a property, and the seller is even willing to accept $5,000, as he is in immediate need of cash, so you lose $5000 just like that.
Always ask the seller to offer an initial price to start bargaining.
A professional seller would know of these tactics and would resist giving a price, in such a case, inquire indirectly.
Quote a reasonable price When it comes to setting a price, think reasonably that the seller also deserves some profit.
Set a price after letting him keep his profit share.
So, you should not ask for a selling price way lower than his initial demanded price as you don't want to offend you seller.
Open up and speak! You should not be flexible so as to let the seller take advantage of your shyness.
There is no harm in bargaining, so justify your price to the seller, if he sees it reasonable, he would agree.
These are some basic places to get you started.
Once you find a motivated seller, you should be very careful to get him to your desired discounts.
Also, don't forget the legal and financial sides of the deal, they are just as important.
The key thought is to look for a motivated seller and negotiate in such a way that would make the seller sell at a discounted rate.
This article provides with some fresh ideas to achieve the target of getting desired discounts.
Look around! Research is the foremost thing when it comes to real estate investment.
Make any deal after very prudent investigation.
Whether you are buying the property for personal use or not, set some priorities like if the property is close to your workplace, if the current market value is good, if it is good time to invest in property etc.
Look for a seller in need Once you find where to start from, look for a seller who is in immediate need to dispose off his property.
You can find such sellers through the classified section of newspaper, or through the internet.
The best thing, however, is to keep your eyes and ears open and alert.
Look for foreclosure as sometimes people want to sell their property in order to prevent foreclosure.
Negotiate softly Since the target is to get maximum discounts, try to soften the seller and make a good relationship with him.
Ask him the reason of his selling the property and such other things which would break the ice a little bit.
It is very important to understand the motivation of the seller, because it gives you an idea as to how to work with it to desired discounts.
Don't put the first offer Don't act foolishly and make the first offer.
For example if you say $10,000 for a certain piece of a property, and the seller is even willing to accept $5,000, as he is in immediate need of cash, so you lose $5000 just like that.
Always ask the seller to offer an initial price to start bargaining.
A professional seller would know of these tactics and would resist giving a price, in such a case, inquire indirectly.
Quote a reasonable price When it comes to setting a price, think reasonably that the seller also deserves some profit.
Set a price after letting him keep his profit share.
So, you should not ask for a selling price way lower than his initial demanded price as you don't want to offend you seller.
Open up and speak! You should not be flexible so as to let the seller take advantage of your shyness.
There is no harm in bargaining, so justify your price to the seller, if he sees it reasonable, he would agree.
These are some basic places to get you started.
Once you find a motivated seller, you should be very careful to get him to your desired discounts.
Also, don't forget the legal and financial sides of the deal, they are just as important.
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