9 Smart Tips when Negotiating With A Home Seller

ACTIVELY SHARE — Buying a house is an important decision and will affect your financial condition. The price of this asset is definitely not cheap, so it is important to plan your purchase well from the start.

You must understand and be able to manage the risks in purchasing the house, so that later you can benefit from the transactions you make.

Apart from buying with the KPR (Home Ownership Loan) system, buying a used house is often the choice of many people. Purchasing a used house like this is usually done in cash.

It is important to have good negotiating skills with the seller, so that you can get the best price. Do not let you make decisions too easily, without making the best efforts to be able to profit from the purchase of the house.

Check out the following important tips, what you can do to get profit in negotiations with home sellers:

1. Learn market prices

When you have found the right house in the right location, then start looking for market prices in that area. You need to adjust to the type and size of your home, including the design and others. This is a very important point, so make sure you do it with care.

The more accurate the market price you get, the easier it will be for you to make a fair offer that can benefit you. The condition of the house itself will greatly affect this price, so don’t ignore it.

2. Don’t get carried away

Avoid being overly emotional or overly excited, because you must remain objective in making decisions. Even if you really like the house you choose, make sure you stay calm and don’t get carried away. You need to negotiate in the right way, in order to get the best and most profitable price in purchasing the house.

3. Be prepared to compromise

Negotiations have to come with compromises, you have to prepare yourself for this. Submit your offer only after you have done a survey, so that you can really determine the right price and in accordance with the conditions of the house. my recommendation for you is to do the several surveys, not just once,

You can even do a few surveys before bidding. In this case you must remain flexible and provide quotes based on an accurate analysis of the conditions of the house.

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4. Determine the bid value based on cash flow

Don’t ignore potential profits, you need to calculate this before making a bid. There are several things that can be taken into consideration, including: market price, liquidation price, and others.

Calculations like this will give you a clear picture of the potential benefits that can be obtained later, including the potential cash flow. This calculation will allow you to get the most reasonable price for the purchases you are about to make.

5. Set the maximum bid price limit

As a good investor, of course, you already have careful preparation before making an offer or negotiation. Don’t forget to set the maximum price limit that you will provide in the offer.

This is important and will make it easier for you to negotiate in no time at all. If it turns out that the seller refuses to bid below the price limit, then you certainly don’t need to continue negotiating again.

6. Don’t mention the price first

When negotiating a home purchase, avoid mentioning the price first. Just let the seller mention the price first, including the deadline he deems appropriate. In general, the seller will immediately ask you what price you are offering.

7. Bargain lower

When making bids, make sure you provide a value that is lower than the price that the seller is offering. For example, if the price set by the seller is IDR 800 million, then you can bid in the range of IDR 600 million – IDR 700 million. This will leave you with a range for negotiations, which is around Rp. 100 million – Rp. 200 million.

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8. Don’t be influenced in making decisions

In buying a home like this, brokers and home sellers are the ones who often influence potential buyers. Make sure you understand the ins and outs of property first, so that you don’t get influenced by other people in making decisions. This will make it easier for you to make a more profitable offer.

9. Ask for a grace period

If you have reached a price agreement, then you still need to negotiate the payment process. You need to ask for a grace period to make these payments, especially if this process will involve a bank which could take up to a full month.

Convey this well, so that later the payment process can be completed properly and according to plan.

Negotiate Smartly

When you are going to buy a used house, you will need a negotiation process first. This process is very important and can affect your potential profit, so make sure you understand how to negotiate the right way. Negotiate in a smart way, so that you can get your dream home at the most profitable price.

Please read negotiarions tips to get the best deal for your business

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