Do you wish to buy a property but the price seems a little high to you? Give yourself every advantage thanks to these 10 tips for a successful negotiation.
1. Look at the market price
Carry out multiple estimates on different websites and search for advertisements relating to similar properties at lower prices to find figures showing that a property is over-valued.
2. Negotiate more if the property has been up for sale for several months
If an advertisement has been appearing for a number of months, it is often because the price has been over-estimated compared with the market. This means you can easily start negotiating.
3. Check the energy performance of the building
If the building has a PEB index of F or G, which is often the case for homes built before 1980, a negotiation may be necessary.
4. Be on the lookout for every defect
An apartment with little natural light or on the 5th floor without a lift will be far more difficult to sell. Supply and demand will result in a lower price for such properties. So do not hesitate to point to these disadvantages in order to bring the price down.
5. Check that the property is facing in the right direction
The value of a property can rise or fall depending on which direction it faces (natural light) and the view (garden side, for example).
6. Assess the cost of work
In your budget, take account of the expenses linked to any work that may be necessary. Depending how extensive such work may be, you will be able to negotiate a reduction in the asking price, provided it does not already take this work into account.
7. Identify any potential noise pollution
Be sure to visit the building and the surrounding area at different times of the day or night to gauge the extent of any noise pollution. This, too, may have an impact on the price.
8. Check the accessibility of the property
The proximity of public transport, easy parking, but also the distance to shops are often factors that can influence the price of a property.
9. Look carefully at what stands opposite
If the building opposite has a view directly into your lounge, this can affect your comfort and your privacy. The size of the joint ownership association to which an apartment belongs will also impact on your comfort and the amount of your charges.
10. Consult the building plan
A poorly-designed apartment, wasted space or difficulty in making the best use of the living areas can also provide a basis for negotiation.