How to negotiate the price of a house in Cambodia in 2018

You fell in love with this property but you feel that the price offered by the seller is too high? It's time to get ready to negotiate the selling price.

Negotiation: the essential checklist

Negotiating the price of a property is a delicate process but you can win hands down by learning some practical tips that proved themselves. Follow these few points to prepare for the price negotiation:

 

1 Learn about the state of the local market.

2 Know when the property arrived on the market.

3 Insist on your budget

4 Find the weak points of the accommodation you visited.

5 Prepare your arguments in advance.

6 Advertise a very low price to be able to redo higher offers.

  1. Learn about the state of the local market

Before starting negotiations on the price of a property, you must learn about the state of the local market. Observe the price at which similar properties are sold, visit relevant website to know exactly the price per sqm in this town and this neighborhood, ask real estate agents in those city. Your arguments will be all the more credible if you show that you have made your homework.

TIPS: Do not forget to consult the real estate agent in charge of selling the property you have visited: he knows the seller and will tell you if you are able to negotiate with him or not.

  1. Know when the property arrived on the market

If the good, which you want to negotiate the price, was put on sale a few days ago, there is little chance for the seller to accept large concessions on the selling price. On the other hand, it is not uncommon to notice that a property was put up for sale more than 3 months ago: when this property has not been sold since all this time, it usually means that the Seller has suggested a price too high and it is reasonable to assume that you can offer a price 10% lower than the one requested.

 

  1. Insist on your  budget

Regardless of the price set by the seller and the one you are going to propose, you must always rely on your budget when negotiating a selling price. Restore your calculations, make an appointment with your bank and do not forget to set a goal that will be your goal throughout the negotiation.

 

  1. Find the weak points of the accommodation you visited

When you visited this property, you may not have seen all its flaws, those that allow you to argue and advocate for a lower price. In this case, do not hesitate to visit the property several times and keep an eye, then draw up a list of elements that can support your negotiation request: work to be done, a boiler too old, bad insulation ...

                                                                             Ultimate guide to price negotiations

  1. Prepare your arguments in advance

Do not start negotiating the price of a good just after a visit if you have not prepared your arguments. You should take the time to study all the elements that you have identified and write down your arguments on a paper that will help you remember all your points by the time of the negotiation, you will appear all the more convincing.

 

  1. Advertise a very low price to be able to redo higher bids

To start negotiations for the price of a home, you can play the card of daring and offer a price lower than your ceiling not to exceed, because the seller will certainly try to counter your offer. You will be more likely to get a final sale price that is close to the one you had in mind.