Strategically Sealing A Real Estate Deal
1> If it’s an independent house – Once your offer is accepted, ask the agent to withdraw the property from the market and to stop marketing it. If they are still showing potential buyers round, there is a risk that you could be gazumped & you could be rebuked. You could understand this more, if you knew the meaning of this saying – ‘Time Teaches You to Respect Money – With Money You Will Respect Time’.
2> Get your survey arranged quickly because it shows you are committed to the purchase. You can either ask your Vendor ‘Homebuyers’ Report/brochure’ which says which banks lends loans on which property or organise your own.It is up to you to chase it to ensure this takes place promptly and you receive a report shortly afterwards in case you need to revise your offer.
3> Pay particular attention to the Banker’s valuation because if he values the property below the offer price, you will not get the mortgage amount you hoped and will have to negotiate the price down with the vendor.
4> Get straight on to your agent/facilitator/legal advisor to get the legal paperwork started and inform your Banker of the property’s details. Keep friendly with the Banker’s agent so they continue to have an interest until you complete the sale (or they will not get paid). So if the bank is slow to arrange a time for the survey, get the agent to do the chasing. But if the Banker is part of a chain, problems with other sales are outside of your control, don’t bother much about them.
5> In most cases, there is a two-week delay than agreed dates between exchanging contracts – when you pay the deposit and the purchase is agreed – and completion – when the finances are settled and the keys handed over. You can opt for a delayed completion if the Banker needs more time but you want to secure the property.
If all this sounds too stressful, then you can always hire agents who could do this for you at a certain cost. Always take that pleasure to do things yourself & that will get you closer to sense of acquiring something. If things were to come too easily, it boils down the excitement part of it. Remember, it will all be worth the effort when you get the keys to your own home.
Negotiating a Real Estate Deal
Art of Negotiating A Real Estate Deal
Structuring a Real Estate Offer
Tools for Negotiating a Real Estate Deal
Personal Communication When Buying Real Estate
Unwanted Emotions While Negotiating A Real Estate Deal
Low Price War in Real Estate
Negotiate With Data in Real Estate
Use Proper Timing To Negotiate Real Estate Deals
Ask Inappropriate Questions While Negotiating A Real Estate Deal
Making a Counter Offer While Negotiating Real Estate Deal
Incentives Can be Offered by Buyers or Sellers
Strategic Buyers Guide in Real Estate
Strategically Sealing A Real Estate Deal