I’m keen to get some more creative thoughts on what you guys would consider trading or negotiating points when buying or selling property. Below are a few of the ideas that have been floating around my head. I’m told that everything is negotiable, but I’m keen to get some other feedback, ideas and strategies that have worked well for other people.
- Price
- Vendor holds back part of the Price till later
- Currency
- % of valuation
- Settlement Timeframe
- Could include a payment schedule
- Early Access
- Agree to assist with mortgage payments in exchange for longer settlement time and discount.
- Options / lease back
- Option to buy additional lot at sometime in the future (When dealing with Developer)
- Conditions
- Finance (suitable to buyer)
- Building / Pest
- DA Approval
- Furniture
- Split of rates and bills
- Who pays for fees / Bills / commissions (or share certain fees – valuation, soil testing, professional, insurance)
- Repairs?
- Tenants – vacant or rent increase?
Like you mention, you can negotiate on most things. If the current owner is a tradie you can negotiate for them to complete some work prior to settlement. Or for them to do rubbish removal, site preperation for you. Or you could get them to find a tennant for you. Or if they are already in the process of renovating/building you might negotiate that they leave all the materials they have already purchased behind. You could even negotiate that they pay your stamp duty for you. The options are endless and they are as good as your imagination and negotiating skills
You could show the agent your numbers to explain to them why you need to purchase the property at a curtain price to make it work for you.
Take the agent to lunch or a coffee and you will knock down a lot of guards and they well tell you lots of things. I sometimes say if this property was this price based on my numbers to renovate and re sell, then when I renovate you will be the agent to get it re listed. Then they know that they sell the same property twiss.
*chuckles* at Jaffa's "curtains" always thinking real estate
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