Real estate: 5 tips for negotiating the price of a property

Buying real estate is not shopping in a supermarket. The price displayed is rarely that of the transaction: there is always room for negotiation.

But be careful, this is not to make mistakes that could jeopardize a sale. Here are 5 tips for negotiating a transaction and owning a low cost.

Study the local market

It is essential to know all the trends of the market in which the property in question is located. For this, the various monthly barometers (Seloger, MeilleurAgents, Notaires, etc.) published in the press can give an idea of ​​the economic situation.

The government has also set up a website which lists all the transactions in a given district (note: the surfaces are sometimes incorrect). So many elements that give an idea of ​​the fair price of a good. If the seller is too greedy, we can try to make a lower offer. Conversely, if the price is fair, there is no need to negotiate.

Note the publication date of the ad

When a house or an apartment has been for sale on a real estate ad site for several months, or even weeks, this is a sign that negotiation should be possible.

If it does not find a taker, it is because the good has a defect or that its price is too high. Let your memory work: sometimes salespeople change agencies because they can’t find a buyer. You may have already seen this property a few weeks ago with different photos.

Survey the real estate agent

If you go through a real estate agent, you can play the franchise card: “I absolutely want this property, but at 10,000 euros or 5,000 euros less”. If the latter is in competition with other agencies (exclusive mandates are rather rare), he will be able to be persuasive with the seller.

Make a reasonable offer

For some, negotiating is quite an art. In general, you should aim for 10 to 5% of the displayed price less. Going lower could be frowned upon by the seller. And it is better to avoid robbing him if you absolutely want to buy his property. Then, you have to know how to be reactive in the event of a counter-offer.

Better to set a goal early on and start below. As a benchmark, 10,000 euros more in a loan (over twenty years at 1%) increases the monthly payment by nearly 50 euros.

Evaluate the work

During the visit, you must be vigilant about the condition of the property. Is this an energy-intensive home? Is the electrical installation up to standard? Is the kitchen sufficiently equipped?

Without going so far as to have an estimate made (the process would take too long), we can estimate the price of the work required for a refurbishment. This amount can be used as an argument to lower the price of the sale.

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