The current market is back in the doldrums and when the property market is falling, past experience tells us it's a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here's a step by step guide on how to buy a property by haggling down the price.
1. Get your finances sorted!
The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take. You can also choose the best property marketing agency in Southbank.
2. Find a legal company which can exchange quickly
The legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies.
So if you want to land a deal, it's important to get a job at a law firm that can work on time and doesn't rely on someone to do the job if they get sick or take a break.
3. Find out where to get great real estate deals
Real estate deals are guaranteed when people are desperate to sell. There are many reasons why someone might sell property for a low price, including:
a) The three "D's" – death, divorce and debt
Unfortunately, many things happen in the life of homeowners that force them to sell their property for less than its value. If someone dies, their partner may have to sell because they can no longer afford to buy the property, or they may need to get closer to friends and family.