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Sign on the dotted line

Prepare to negotiate on price

How do you negotiate to buy a property? We’ve got a few tips below.

One of the most important things to remember is that a real estate agent who lists a property for sale, is working for the seller, thus they are looking to sell the home at the highest price. Having a confident approach to negotiation and a firm cap on your highest offer will certainly be needed in the process of negotiation.

How can you prepare to negotiate?

Doing the appropriate level of due diligence is key!

This means doing your research on the property and areas that surround. Reviewing the LIM report, obtaining a builder’s report and any other documentation to help you make an informed decision on the property you are purchasing will help.

Having an understanding of the sales records for surrounding homes in the neighbourhood will also give you an idea of the value of similar homes to reference so that you don’t over offer on price. Use your research skills and engage with independent professionals who will be able to provide more insight into the property e.g. building inspectors, lawyers and property valuers.

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