If after weeks and hours of endless research, you have finally found the property you so desire, but at an exorbitant price. Do not be afraid ! Here are 5 essential signs that will allow you to know if this property is negotiable in order to make some savings.
Summary
An overvalued property
If you have found the property you need, the first thing is to make a comparison with the existing sales proposals in the neighborhood. Thus, you will have a first idea of the ideal selling price. Do not hesitate to move around, then ask the neighbors if you do not know the place. However, one thing is certain, an overpriced property leaves many possibilities for negotiation with the owner.
Read also: How to make a real estate offer?
The ad is old
If your property has been on sale for several months, it has failed to find a good buyer. Good for you ! It gives you the opportunity to impose your law and propose the rate that suits you. Generally, it will be 10% lower than the seller’s asking price. But, be careful if it is about agencies, the negotiations will be much more difficult. Just remember: Who tries nothing, has nothing.
The existence of defects
This is the most important point, it’s not just for your health, but also to bring down the price of the good. During your visit to the premises, you must check for mold, humidity, ventilation and exposure to the sun. You can also take the opportunity to arrive earlier and make sure that the means of transport serve the area in question. Privilege the evening for the visits, so you will be more informed of the sound noises and their nuisance for your sleep. All these factors combined will allow you to save up to -20% on the price.
Energy performance
Before any purchase of property, the seller is obliged to provide a diagnosis of the energy performance of the accommodation you are looking to acquire. If it displays an F or G label, your performance is not up to par. You will have to foresee that you will have high bills and the standardization work will cost you a lot of money.
Renovations
If the property in question has many defects where it is up to you to deal with them, it is quite possible that you will do them, but on condition that you opt for a reduction on the sale price. Moreover, just to improve the energy performance of the accommodation, or to carry out work following the diagnoses issued by the seller, you will have to pay a lot of money in return. In this case, the price can be reduced by up to 20% of the initial sale price.
Read also: Where and how to look for a rental property?
