Negotiating the price of a property
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How can someone effectively negotiate to persuade the owner to sell the property at a reduced price?
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Depends on case to case basis
Bargaining points
1. Get dummy offers to show asking price is very high
2. Understand requirement of owner and try to acommodate in terms of black/white and timings
3. Show negatives of property and try to pull the price down
Will seller budge on these points
check the govt benchmark rate for land below which u cannot sell the land & use it as foundation to calculate market rate by adding extra %
visit gov office or get acess to recent sale deeds to guess the market rate but remember paper mentioned rate is lower as 99.9999% chance buyer took cash to defraud govt of taxes
add buildin cost & what u spend & may match it with current apartment rate per sq ft
now if the land is big enough to construct apartment then owner: developer decide on whatever ratio to split & the land rate increases xTimes the floors based on FAR
if flat then its simple = current carpet area per sq ft rate in the locality except ifflat s very old
finally land sale is unique due to scarcity & defies logic as rich guy may offer to buy a land way over the market rate just to park his porsche
I can help you negotiate (will talk on ur behalf) but will take a fixed service charge + a share of the discount received (only if successful negotiation)
Just do it like OLX.
Buyer: last price
Seller: 1 Cr
Buyer: 10L last and final.
Seller: okay
Ye konse golaa kaa olx hai Prabhu?
It depends on the eagerness of the seller to get rid of that property. If he is not desperate at all, then you can't negotiate much.
If the seller is offering you the property at decent a market rate, then you can do a little negotiation but don't expect much as the property market is high nowadays.
No seller budges an inch in real estate unless they are desperate. Just don't show your eagerness in buying, they may .
Depends on case to case basis
Bargaining points
1. Get dummy offers to show asking price is very high
2. Understand requirement of owner and try to acommodate in terms of black/white and timings
3. Show negatives of property and try to pull the price down