Imagine a world where all you desire and every little thing you really want are within your budget and financial capacity. Wouldn’t that be lovely? But then, you have to come back to reality which is, even if you are one of the wealthiest people in the world, you may have to strike valuable bargains to be able to get a property of your choice, taste and class. There are many cheap flats in Turkey, but you need not go for a lower class than you want; all you need is to bargain correctly. In this article, you will find expert tips on negotiating and bargaining better, especially in real estate.
Bargaining tips for property buyers in Turkey
According to Turk.Estate proper bargaining skills can help purchasers save up to 20% of the total cost of a property. 20% is money, especially when you compare that to the average cost of purchasing a property, which is about $88,000 (that will give about $17,000 dollars off). What’s more interesting is that the level of concessions or reductions you get is a natural consequence of your bargaining power. Check out and apply these tips below in your real estate endeavours:
- Show your preparedness to buy and no desperation
Generally, the more desperate person will get less bargaining power and value in all business negotiations. The challenge with property purchase is that, most times, the buyer needs a place to stay. Imagine your rent expires from your current place, and you must move out soon. Or just imagine that you have sorted out your immigration plan and now looking for a place to stay/move your family into. If you aren’t careful, you will negotiate from a desperate standpoint.
What to do?
Well, it is difficult to say do not be desperate. But in all you do, never let it show that you are. Be aware that these states of mind can show in your attitude, speech and all. You love the property, but if you intend to negotiate, be relaxed when you inspect it. Hold in some emotions.
How to do it?
Let your seller know you are a serious buyer, and if they give you the concessions you demand, you will pay immediately. So, make them know the ball is in their court. In summary?
- Yes, I the property looks good, and I would like to buy it provided the price is fair (Good).
- Oh My, I love this place! Please don’t sell it out to anybody else; how soon can we complete the transaction (Not so good for negotiation).
- Start your search earlier
The earlier you start your search, the higher your chances of getting a property of your choice; and for a better value. One of the easiest ways not to be desperate is to start early; you will be mentally prepared to weigh all your options and identify an overpriced unit when you see one. You will also have ample time to inspect many properties and speak to agents on their best-value projects for you. As a person already resident in Turkey, start your search between 3 – 1 month(s) before the expiration of your rent, never letter, or you may as well forget your plans for a negotiation.
- Ask for the discount, and negotiate after the inspection
Firstly, if you do not ask, you may never know about the available discounts. Furthermore, negotiating after inspection gives you room to use the property’s condition, what is lacking or its deficiencies as an angle for negotiation. In a best-case scenario, you can get a discount on those grounds, and in a worst-case scenario, the realtor will ensure they are all fixed before you move in. Either way, you save some of the money, which would ordinarily go into repairs of some sort or a reduction in the purchase price.
Advice for all buyers
Never feel bad or apologise for negotiating. You will be surprised how many agents grant discounts. It may not be a big amount, but it may be something. At the same time, some realtors work on fixed prices. In such an instance, you are likely to get a straight-up NO, do not feel discouraged; even rich men bargain, and if you begin early enough, you may get better properties at friendlier prices.
So what are the take homes in this article? Start your search at most one month before you need it, do not be desperate; if you are, do not allow it to show. Ask if there is room for negotiation, and use any deficiency you notice during the inspection as a negotiation yardstick.
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