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.

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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Is Your Property Broker Cheating You?

The main job of the property broker is to let his clients buy and sell homes. Hiring the perfect property broker can help a lot. Whether you are buying a home or selling a property, it will be difficult to find an honest broker. In fact, nearly 50% of the property brokers are cheats and wish to milk out commission from the people. A good agent will have the right skills, the ability to listen to your needs and help you to enter a profitable deal. But, if the broker is a cheat, things might be very difficult.

 

Both buyers and sellers have to approach a broker for making the transaction. He can also let you arrive at the best builder who is known for timely delivery of projects and the one who uses the right materials. A broker can also help you file Complaint Against Builder in Mumbai if he is a cheat. Before you take help from a broker to arrive at the right builder, you should read Review about Builder Project and know his past works.

A good property broker can make the entire thing smooth while a cheating broker can complicate the process. There are some tell tale signs to suggest that your broker is cheating you. Just read up the following section to know them.

Shady broker sells your home at a cheaper rate

In the real estate industry, there are plenty of good real estate brokers, but as every industry has its share of cheat practitioners, the real estate agency is not spared either. You should know that people with charming faces and those who appear fresh may be most crooked. If the realtor is shady and cheat, he will want to sell your property at cheaper rate. There is a common misconception that you and the realtor want to sell the property at a higher price. Although the realtor gets more commission for selling the property at a high price, still he will like to close the deal fast. Every broker wants to close the dealing at a faster pace. Speed is the key to getting the commission faster. More the time consumed in selling the property, more will be the advertisement he has to do. The property broker will have to bear more inspections.

The realtor reduces the selling price

When it is the first week, the broker seems very impressed by the piece of property and quotes it higher. In the next few weeks he starts complaining that the buyers do not like certain factors of the property. As the time passes, the value of your property touches bottom line, according to the property broker. However, this is an obvious sign of a cheating broker. Actually the prospective buyers did not complain about the property, but it is the broker who wants to sell your property at a lower rate. This is so, because he wants to get commission from you and the buyers for selling at a lower price.

Hooking up the buyer

A lot many brokers say that they quote the property at a cheaper rate to gain the attention of the buyer and later on wishes to negotiate. If your broker says this to you, it implies he is a cheat. He is actually tied up to the buyer to gain a commission.

Clinching the deal and selling off at minimum rate

So, finally, when the bidding day arrives, you get an offer for the home. Much to your dismay, the agent presents to you a very low offer bid, saying that the property was not tested in the marketplace or the exact value was not judged.

To avoid arriving at a cheat property broker, you can follow the tips for choosing a reliable broker like checking out his experience level, getting in touch with his past clients and taking recommendations.

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Essential Remedies against Unfair Practice by Real Estate Developer

Investing in the real estate property is the most risky investment, but also a beneficial deal for the future. Properties are the most profitable possessions people own, but at the same time they must be cautious in dealing with the developer. There have been many cases where the investor has lost money due to a suspension of the property, denied possession or delivery of possession delayed for years.

You can spend time and money by following with the developer to get the possession, who may vanish with all your invested money. Eventually, you end up filing a case against the developer at the consumer court. Going for the Consumer court case Real Estate is considered as the best step one can take against the developer.

However, being cautious is the primary thing to consider. We bring you with essential steps to consider evading real estate property fraud:

• Research the Market Trends: Real estate market keeps fluctuating regularly. Therefore, it is important to know the market price of the respective city’s real estate business. Make sure the locality offers a profitable future and results into a lucrative investment. Seek property expert help to gain in-depth research about the market trends.
• Combat yourself with Legal Action: Some real estate developers may bring inconvenience while handing over the flat possession or demand for more money, leaving you with no option but to pay. During such situation, seeking a consumer court could be helpful in taking legal action. For instance, if a developer in Mumbai is denying you the flat, then you can file a complaint against builder in Mumbai through consumer court.
• Verify the Builder’s Track Record: In the age of social media, one can easily get to know the reputation of the builder building respective project. Check their earlier projects and customers comments on real estate forums, Twitter and Facebook. This would certainly give you a sense of confidence to invest in the project developed by the builder, if found viable.

Conclusion:

By concluding, the final advice would be, never be in a hurry while investing on the property, even if you come across a real good deal. Take your time and research for the right deal.

Has Your Builder Delayed Possession? Take Legal Action against Builders

Delayed possession of the house has become a common phenomenon in the Indian real estate market. You can discuss about your delayed possession of the house with other buyers on Cheated Buyers and take Legal Action against builders to solve their problems.