<\/p>\n

So you\u2019ve found your dream home, but it\u2019s in need of a little TLC. While others may see this as a deterrent, this is actually a great opportunity to nab the house of your dreams at a price tag that\u2019s within your means. Here\u2019s how to tactfully negotiate the price without ruining your chances of securing the property.<\/p>\n

Tip #1: Never enter a negotiation empty-handed<\/p>\n

Whether it\u2019s hiring inspectors for a building and pest report, or obtaining quotes from tradespeople, obtaining facts and figures will give you ammunition when requesting a price reduction.<\/p>\n

\u201cEven if it costs you extra, it\u2019s worth getting all the information before making your offer. People often underestimate how much repairs will cost,\u201d says a real estate agent.<\/p>\n

Tip #2: Separate your emotions<\/p>\n

The most tactful way to negotiate is to eliminate all emotions, advises the agent. \u201cTry to separate yourself from the outcome and present your side logically. The owner is under no obligation to accept what you offer, no matter how well you present your points. So if things don\u2019t go your way, being negative won\u2019t do you any favours.\u201d<\/p>\n

Tip #3: Remember this is someone else\u2019s house<\/p>\n

Negotiation is a two-way street, so in order to come to an agreement, concessions will have to be made on both sides. \u201cTry to understand what is important to the owner,\u201d advises the agent. \u201cWhat can you offer to counteract the price reduction you\u2019re after? Perhaps a longer settlement period so they can find a new home? It\u2019s little enticements like this that can often be much more valuable than a couple of extra dollars.\u201d<\/p>\n

Tip #4: If you don\u2019t ask, the answer is always going to be no<\/p>\n

\u201cI\u2019ve heard a lot of weird and wonderful requests when it comes to purchasing a house, so really you can ask for anything. Whether or not it will be accepted is another thing,\u201d advises the agent.<\/p>\n

From wanting certain fixtures included in the sale price, to extra inspection requests, you won\u2019t know what the owners are happy to give if you don\u2019t voice your desires. However, before you go wild with requests, think about what is most important to you, as realistically the owners aren\u2019t likely to budge on everything.<\/p>\n

\u201cIn theory, you can inspect a property as many times as you like. In practice though, it will depend on your agent\u2019s availability and whether or not the owner is currently living in the property,\u201d says the agent. \u201cYou might put off the owner if you are constantly disrupting their day, so as an alternative I\u2019d suggest visiting the street at different times during the week. You don\u2019t have to enter the actual home to get a vibe of what the neighbourhood is like.\u201d<\/p>\n

A house that requires a bit of repair work is a great bargaining tool and generally an opportunity to secure a good price.<\/p>\n

Source:<\/strong><\/small><\/p>\n

Reproduced with the permission of the Mortgage and Finance Association of Australia (MFAA)\u00a0<\/small><\/p>\n

Important:<\/strong><\/small><\/p>\n

This provides general information and hasn\u2019t taken your circumstances into account. It\u2019s important to consider your particular circumstances before deciding what\u2019s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.<\/small><\/p>\n

Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business, nor our Licensee take any responsibility for their action or any service they provide.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

So you\u2019ve found your dream home, but it\u2019s in need of a little TLC. While others may see this as a deterrent, this is actually a great opportunity to nab the house of your dreams at a price tag that\u2019s within your means. Here\u2019s how to tactfully negotiate the price without ruining your chances of Read more about THE PERFECT PROPERTY AT AN AFFORDABLE PRICE – IT’S NOT A MYTH<\/span>[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":49,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/posts\/48"}],"collection":[{"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/comments?post=48"}],"version-history":[{"count":1,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/posts\/48\/revisions"}],"predecessor-version":[{"id":50,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/posts\/48\/revisions\/50"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/media\/49"}],"wp:attachment":[{"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/media?parent=48"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/categories?post=48"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.wealthevolution.net.au\/blog\/wp-json\/wp\/v2\/tags?post=48"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}