Negotiating the Best Deal

If the seller accepts your first offer, then congratulations. Your negotiations are over and you're ready to start preparing for your move. However, a more likely scenario is that they will come back with a counter-offer. Buying property is one of the few times when you're expected to haggle. Don't try to rush into the deal and panic into over-bidding - you can always raise an offer that's too low, but you won't be able to lower an offer once it has been accepted. Base your offer on sound reasoning and provide a rationalisation for your offer, if it is considerably lower than the asking price. You may be able to negotiate a considerable reduction if there's a lot of work to be done. It may also be useful to obtain an independent valuation - if it's less than a vendor is asking it may encourage them to lower their price. Negotiation is among the top reasons for having a real estate professional assist you.

Developers may offer incentives to buyers of new apartments or houses, such as free furnishings, kitchen appliances or upgraded fittings, so try to get as much included in the price as possible.