Are you sure you are paying the right amount of money for a property? If you are trying to close a private deal with the owner of the house of your dreams, you must take this clues into account in order to be sure you pay exactly what the property is worth.
Even though, the best way to ensure that you money will be well spent is contacting a professional agent and a real estate agency with a recognized solvency has Amat Luxury. You can be sure that the deal will be the best for you.
1. Long time on the market
When a property has been loitering on the market for a long time, is a good moment to think about negotiation. It’is more difficult to talk about price after the first open house but, once the property have been more days at the market compared with similar properties in the area you have arguments to ask for a lower price.
2. Several price reductions
If you have noticed that price dropped a few times in a row it is sign that maybe the realtor listed the home for more than it’s worth. If they’re reducing it every week, that probably means they’re not getting any offers.
3. Similar properties on the market
If the property you are interested in is very similar to the rest of the neighborhood properties, you can try to negotiate. If a particular home is facing competition by being listed close to similar properties, it’s possible the price may be negotiable.
4. High motivation to close the deal
The most important thing is figure out the motivation of the seller to sell the property. Depending on that you can see if there is rush to close the deal. Perhaps they need to move before the school year starts, or they have a baby on the way, or are in the middle of a divorce. Time is the most important thing in this case. When people are motivated by a specific date on the horizon, they’re often a bit more willing to compromise.
5. Nobody living there
It is important to know if the property is empty and it’s usually a good indication that you can negotiate the price because the seller is paying for supplies and everyday costs so this is a sign for a possible quick deal.