Property negotiations aren’t always about price, Terms can be very important and in a lot of cases can be more important than the price.
These questions are vital to ask a selling agent before you make an offer, knowledge is power and these questions can determine your strategy for making offers and ultimately save you, your hard earned money.
1. Why is the vendor moving?
The vendor might be selling to release funds for their business whether they are failing or growing their business. They may be selling due to a death or divorce, or they may have bought a home elsewhere already. Could the house be falling down or have bad neighbours?
2. How long has the property been for sale?
If it has been on the market for a while they could be ready to accept a low offer.
3. When does the seller need to move by?
If they need more time you could offer a longer settlement with a low price. We offered a couple selling a longer settlement due to their home being built and they in turn reduced their asking price dramatically with the extended time offered to them. That was more important than having to relocate themselves and their belongings twice.
4. How much will the owner accept for their property?
Asking this question to a mediocre agent and they will sell/tell you the sellers bottom line.
5. What else do you have at this price?
Shows you are indifferent about the property and makes the agent justify the asking price to you.
6. What inclusions come with the purchase?
This is a great way of getting loads of extras in the deal if you would like the furniture, appliances, tools, machinery, kids cubby house etc to be included.