3 TIPS how to MAKE an OFFER
Buying a new property is the biggest investment you can ever make. Since you don’t make such a deal too often, there is quite a lot of stress associated with it. You may simply not feel confident enough when it comes to negotiating the best conditions for yourself during the deal. So how do you make an offer for a property you like and want to buy for yourself?
PRICE isn’t everything Don’t forget there is quite a lot of psychology involved in the real estate market. Often times there are personal and sentimental feelings involved. Making an offer is a lot like chess: you have to think a few moves ahead.
1. The first and most important factor every buyer should consider before making an offer is to develop a strategy. You should research the property well and ensure that it fits all of your requirements and preferences. Try to draw analogies with similar properties on the market. The price of similar properties in the area serve as basis on which you form the offer. It is always a good idea to ask your estate agent for an up-to-date evaluation of the property to help you get a better understanding of the price you want to purchase the property for. Keep in mind that a badly placed offer may create some hostility with the seller.
2. Every seller wants to get the most money for their property, while every buyer wants to pay as little as possible. In order for both parties to profit, they need to make an offer that is mutually beneficial. After all, the deal is made with both parties agreeing on certain terms. Before you make the offer, be sure to ask your agent how the current price of the property came to be, how long the property has been on the market, why the property is for sale, whether there are any other offers and whether the price has been reduced before. Buyers often require 10% or even more reduction of the price. However, in a seller’s market with plenty of demand, sellers may not be willing to lower the price at all.
3. Make an offer by filling out the appropriate form for the property in question. It is always best to get it in writing, because there is less chance for misinterpreting the deal and the factors surrounding it. Your first offer as a seller may not be immediately accepted, but it may receive a counter-offer. This means you have to negotiate. When you meet an agreement, you have to pay a deposit, which serves to prove your intention to buy the property. If that is not done, the seller has the right to keep the property on the market for other potential buyers.
Now that you know what the most important aspects of buying a property are, you can use our platform BanskoSkiProperties.com to contact us. You can do so via phone or email to get the best property for yourself in the biggest Bulgarian ski resort Bansko. Have fun!
