Tips When Negotiating the Price of a Property

Whether in Costa del Sol or anywhere else for that matter, sellers always want to get the highest purchase price whilst buyers want to get most value for money. It is not always easy to strike a balance between these contradictory goals, but with good negotiation skills, it is possible to strike a fair deal.

One important point is to start with a realistic market price. An insulting offer might offend the sellers and might make them less cooperative throughout the entire buying process. On the other hand, listing a property for an unrealistic high price in the hope of getting lucky may not pay off because the property would remain unsold, or worse, the pool of interested buyers will dry up, leaving the vendors frustrated and potentially settling for a much lower price further down the line.

It should be noted that although price is paramount, it is not everything that should be taken into consideration. Parties may be willing to come to an agreement in respect of other factors, such as transaction costs, closing times and the value of the deposit.

Moreover, the inclusion of furnishing, repairs or large appliances may make the property more attractive to potential buyers.

It is important to be respectful of the other side’s position. Irrespective of their contradictory interests, both parties in essence want to strike a deal.

At Golden Properties, we offer our buyers and sellers the required market experience and negotiation skills to strike the right balance and ensure the best outcome for them.

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