In the real estate market, there’s a saying that goes “everything is negotiable”. However, is it even true?
Each time you want to buy a house from the many villas for sale in Dubai, you’re certainly aiming to get that sweet deal in terms of price and terms. However, in order to achieve that, you have to figure out when you should start and stop negotiating.
This brings us to the question: how do you get a fair deal when buying a house? To help you with that, here are some tips we offer:
1. Make sure your finances are in order
Before you even start hunting for a sweet real estate deal, you’d want to make sure your finances are in order first. Keep in mind that your offer will be a lot less persuasive if it doesn’t come with a mortgage preapproval. Most real estate firms won’t show their listings to buyers unless they are preapproved. However, that can take even a few months to achieve.
2. Meet the seller personally
Nowadays where it’s entirely possible to close a deal online, going the traditional way by talking with the seller in person can certainly be advantageous. After all, you’ll be able to create a connection a lot easier if you get in touch with the seller in person.
Although it’s not always a guarantee that you can talk with a seller in person, doing so will allow your offer to have an edge over any anonymous offer they might receive. Your offer will most likely stand out since they’ll remember your face and tend to associate your offer with it.
3. Line your offer with the value of the property
Instead of basing your offer on the listing price, you might want to base it on the value of the property. If a property has a price which is below market value, then it won’t be possible to get it for loss. However, if it’s priced above market value and has been up there for quite a while, then you’ll have a higher chance of getting a fair deal granted that you also conducted market analysis.
4. Research for real estate listings online
It’s really important to gather information regarding a property, its seller, and the neighborhood it belongs to. For example, if you want to buy a property in one of the new projects by Emaar like Emaar beachfront apartments, you’d have to check for any information regarding it online. This way, you’ll be able to have an insight on the property’s current market price, when it has been put up for sale, and whether it’s been for sale on the market before.
5. Be quick with your decisions
If you’re eyeing one of those townhouses for sale in Dubai, then you have to be prepared to move fast. After all, new properties, especially in a major city, tend to go very quickly. This is especially true if you’re in a competitive market. Therefore, each time you make your first offer, it has to be the best offer you can give.