To negotiate a property deal is actually an art that can’t teach you. Some people are just born to negotiate, women are better in that case. There are certain other things than negotiating when it comes to purchasing a property. As economic condition alarms and demands property wanes, those who are looking for a house can take advantage of this situation to avail best deal.
As property sales continues to boom in many part of our country, they became more open towards price negotiations. Today there are more new properties in Delhi than actual buyers, therefore there is much space for new trend of negotiations with the developers. Now it is the time for liquidation of developer’s inventory.
The first rule for negotiating properties in Delhi is to find whether now it is buyers or sellers market. Like in buyers market the sellers are more while in sellers market buyers are more. Like Delhi and Mumbai are said to be seller’s market while Bangalore and Hyderabad are buyer’s market. In sellers market there is no space to negotiate any deal whereas buyer’s market is the place where you can avail right deals from sellers.
Once you have got an idea of current market, make the offer. You can talk with developer and make them feel; you want to make the purchase as soon as possible. Developers sometimes offer discount to those buyers who are really going to buy the property. You can take two days and finalize on after hunting for some properties. Best strategy will be to shop around same locality and find best prices from certain properties. Now make one list of properties you are interested in and let the developers know that you were searching the best deal which you want to finalize quickly. You tell the developers that you already compared the prices.
Same area if you find a fall in sales and unsold houses are there, you can tell this to your developer and take it as an advantage. Sometimes selling off properties at low price even works for the developers, there they save funding cost which is used for new projects.
In real estate market in two modes you can have deal. There can be sales team of developers or some people hire a broker. You can have both also. Brokers or agents helps in finding right property for you fast because they are completely aware of current market status and ongoing projects in the same area. Professional brokers can avail you the best deal as well as they can put you in mess. If you want to go by your own by little research in the market, it can be good enough for the deal.
In some case, buying a property directly can be better while good brokers can get you excellent deals too. Even if you hire a broker, do some research work of your own too and enquire about the prevailing price directly. In such way you can make sure whether broker is taking into innocence into consideration and trying to cheat you or not by earning big commission from high quoted price.
Online research can also work for property dealing. Go through such websites, you get directly deal with developers and no need of negotiation through this channel. Even you want to have offers from different developers, browse through the website listing and which developer is offering discount.
In many cases, developers may not go with low prices due to reasons like high costs. Then let your developer know you need to analyze before taking final decision.