Looking To buy Your Dream Home? Know How To Negotiate Property Purchase

Buying a real estate property is a pretty expensive transaction and thus it is important to make the right decision. Several factors determine the price of the property like the demand it has in the location and the nature of the defect it has. The price of the property is increasing steadily and thus it is important to determine the present value of the piece. To lock down the best deal, you can follow certain tips and negotiate over the price better. Before making any purchase, you need to know about the builder from the reviews and the feedbacks. If there is any Cheating Case Against Builder filed in the past, you must refrain from choosing that builder.

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Those who are looking for price negotiation, they have now more chance of getting a fair price. Since the developers are moving through the phase of liquidity, the home sales are sluggish and sellers are more open to negotiation. In the present market, there is more inventory of property when compared to the number of buyers and thus you have chance for innovative negotiation with the developers.

Determine the fair price or market value of the property

Before starting to negotiate over the price, you need to determine the fair price. Real estate agent or broker will have an idea about the price and in fact, you would also get an indication about the price from the list price. But then, you need to do your research and learn the reasons behind the sale. Find out the selling price of similar property and its price per square foot. If the property is new, you have less chance of negotiation, but you can still move ahead and negotiate. Get to know how long the piece has been there in the market for sale and how many viewings it has. Find out the reason behind the sale. If there is any emergency reason for selling, you have chance of negotiation. Also, ensure that the builder whom you are dealing with, has no registered Complaint Against Builder In Mumbai or any other region.

Do not go too low

Every buyer wants to procure the property at the least possible pricing, but moving too low is not good. It will create a negative impression on the mind of the seller and may even annoy him. You are not supposed to shoot yourself at the feet of the seller, but offer a price which is pretty justified. Then, a seller will not expect a buyer to give his offer price, but he will be ready to negotiate. Also, if a builder agrees to a too low price, just research more about that property, as such builders may be fraudulent and might be selling you the wrong property. N such scenario, also ensure that there is no cheating case against builder with whom you are dealing.

Avoid being emotional and overstretching the property

Do not get swayed away by your emotions and start to like the property too much. If you keep overstretching and appreciating the property too much, you are likely to pay more for it. When you buy a property, be serious and practical. Have your budget in the mind and just stick to it. You must have that maximum price in your mind, which you are willing to pay. In case, your price is not accepted, do ask the vendor how much he wishes to take.

Be as appealing as possible

Avoid behaving as if you are the first time buyer. When it comes to price negotiation, try and appear appealing and show that you are much ahead of competition. If there is too much competition in the market, it will be better if you can sell yourself as the buyer. A seller will definitely get attracted towards you, if you have no chain or complication relating to the sales. You need to show that you are a serious buyer.

To arrive at the best deal, you need to look for a reliable broker. To avoid filing Complaint Against Builder In Mumbai, you need to dig more and more about the builder. Whether you buy a property all alone or in a group, you need to bargain over a realistic price.

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How Real Estate Developers have Duped Customers in Past?

The entire real estate market of India seems to be notorious due to the lack of transparency. Buyers, most of the times, find themselves locked in the property that has several defects or end up paying charges which they should not be liable to pay. It is even worse when the buyer is just forced to shell out money to fund fines that are actually levied on the builders.

Buying a property is thus risky despite the government setting up regulation. Then, a buyer can get stuck up in a property which is not constructed fully. It is important to know the tricks that real estate developers use to deceive the buyers. By doing so, you will avoid being Cheated By Builder. 

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If you find yourself trapped by a builder, you can file Complaint Against Builder In Ahmedabad.

Violate development rules and plans 

Most of the times, in order to sell the property, real estate developers make a false claim that their construction adheres to the norms of the National Building Code. When most developers get their plans approved or sanctioned by the authority, there are others who do not build as per the plan submitted. There can be violations ranging from building margins and height. They have the false notion that even if the building does not adhere to the building code, it will be regularized later.

Builders earning profits from value additions 

Building amenities and recreational clubs are another issue, since buyers have no other option but to pay for them. As a buyer, the builders often do not give the option of not availing club memberships or other amenities. It is common practice to ask the buyers purchase the amenities and pay for the value additions while the builder continues to earn profit. In some of the projects and townships, the developers just promise to offer grand lifestyle, but do not transfer the ownership of gym, community halls, swimming pools and other facilities. Builders retain the rights over the value additions as per the builder-buyer agreement and continue to milk out money from the buyers. If any such thing happens to you, you can lodge a Complaint Against Builder In Ahmedabad.

Charging for the super built area

In any of the plots, the built-area is linked to the plot size. The ratio of the built up area to that of plot size is termed as FSI or Floor Space Index. The Floor Space Index is different for different areas. Most of the times, the space occupied by terraces, balconies and the parking lots are not included within the Floor Space Index. But then, once the layout gets approved, developers just convert the other spaces into FSI. The overall cost of the property is then calculated on the basis of super built up area. So, at the end, you need to pay for the apartment’s charges and the super-built up area.

Passing on the developmental charges to the buyers

Property developers need to pay for the development charges to the government. They include the cost of using civic amenities like water, roads, electricity supply, drainage and sewage expenses. The local authority fixes up the external development charges and then it is passed on to the buyers according to the built up area the buyers get. At times, the developers do not pay the EDC charges and pass on the liability to the buyers.

The clause of advantage builder 

It is important for any buyer to read up the terms and conditions and find if there any clause regarding advantage builder where the builder is given the right to revise the price of the property. There can be that price-escalation clause where the builder can increase the price of the apartment and the charges relating to it.

There are various other ways in which the builders can cheat a buyer. If you have ever been Cheated By Builders, you have the right to sue him. But then, you need to have that right to sue him as per the terms and conditions of the agreement.

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Budget for real estate buyers is highly Disappointing

Budget for real estate buyers is highly disappointing
1. No change in GST rate. High GST rate is one of biggest barrier in revival of demand
2. No relief to home buyers on interest deduction on under construction flats
3. No relief on income tax slab to middle class
4. Affordable housing fund is too small to contribute to housing for all.
5. Allowability of 5% variation in ready recknor rate and agreement rate is too small when compared to 100s of micro  markets where market rates are lesser than ready recknor rates
6. No relief in structure of REIT
However, taxation on long term capital gain on listed equity can bring some money to real estate.
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Real estate Buyer suffering from Delays – Cheated Buyers

Can they be saved from the Real Estate Projects?

Interesting views of one of Real Estate Buyer suffering from delays of more than 3 years !

Share your Thoughts !

 

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Are You Frustrated After Investing Life Time Saving in REAL ESTATE?

Three easy Steps to increase your Network with other Buyers in the Project where you are customer

1) Register your Developer and Project

2) Leave your whats app Number

3) Share your post with others

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Why online Review of Developer or Projects?

Shelf life of Twitter/Facebook feed is not more than  2-5 minutes where as whats App reviews/discussions remain within a closed group and fails to reach larger audience.

Online Reviews, Categorised Properly, have larger audience, larger shelf life and quite important all the stake holders.

Your Reviews can reshape entire Real Estate Industry. We are keen to get your feedback on real estate developers and project at http://www.cheatedbuyers.com . One of your reviews or other promotional contribution will also get a chance to win a brand new Iphone 6 (32GB) (Please see terms) on 2nd October 2017.

So hurry up. contribute in cleaning the real estate industry !!

What you can post? Your experience : Positive/Negative/ Delays/ struggle/ learning etc which can help industry.

Check How other Buyers are writing their Reviews about Builders:

(1)  Aliens Group

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Best Wishes !

Real Estate Buyers from Jaypee are on Road Today !

Warm up sessions started for real estate developers in India ?‬ A lot have started !

Why not when 30,000 cheated real estate buyers of Jaypee; 2 Lakh buyers @ Noida; 5L @ NCR and 30 L across India are facing distress.

Payback time ; share your views

More than 30000 Real Estate Buyers from Jaypee are on Road Today!

Probably warm up sessions and nightmares for Real Estate Developers in India has started !

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