How to make an offer on a house & negotiate when buying

How to make an offer on a house & negotiate when buying

How to make an offer on a house & negotiate when buying. Are you about to buy a new house in North Cyprus or any other country? Then you must be looking forward to securing a great offer for it. However, bidding process can be complex and frustrating for most people. That’s why we thought of sharing this guide on how you can make a good offer at the time of purchasing a house. All you have to do is to adhere to the basics and go ahead with it.

1. Do your own research

Before you proceed to the bidding stage, you will need to do a bit of a property market research about property prices in North Cyprus. For example, you can do your own research and discover similar properties that are sold within the same area in the recent past. Then you can get a better idea about the price. You may also get in touch with your real estate agent and learn more about the market.

2. Look for benefits that you can have

It may be possible for you to put yourself into an advantageous position when compared to other potential buyers. For example, if you are a cash buyer, you can make yourself a better prospect than others. That’s because the house owners would prefer to get cash to their hands and sell off the house within the shortest possible time.

3. Haggle

There is no need to think twice before you haggle. This is where you can start off by making a lower offer for the house. It should definitely be an amount lower than what you can afford. Then you will be able to have some leeway, so that you can bargain at a later stage. Some people don’t tend to haggle for relatively smaller amounts such as thousand dollars. However, it is still a considerable amount, and you can haggle. There’s nothing for you to lose by haggling, so make sure that you don’t ignore it.

4. Skip round numbers

It is a good idea to stay away from round numbers when you are making an offer. For example, you should not make an offer of 100,000. Instead, you may provide an offer of 100,500. These types of offers will increase your chances of clinching the deal. However, you should still make sure that your offer is a reasonable one.

5. Get all details together

When you are making an offer, it is better to be fully-equipped with all details. This is where you need to understand that price alone is not in a position to create a major impact. You will also need to make sure that you are going for a smooth sale by having essential information along with you. When you have details, you will also find it as an easy task to explain the situation. For example, if you are a first-time homebuyer, you may explain it.

6. Be ready to walk away

Not all bidding experiences will go in your way. In some of the instances, things will go out of your budget. In such situations, the best thing that you can probably do would be to walk away. This is the reality, and you should be in a position to face the reality. Otherwise, there is a high possibility for you to get into even more challenging situations in the future.

Anyone who is about to buy a house can adhere to these tips and go ahead with making an offer. It will help you with saving a considerable amount of money in the long run. You will surely fall in love with the returns that come on your way as well.

Join The Discussion

Compare listings