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Prepare before you trade
Good preparation is the key to a successful negotiation. Before you make a purchase proposal, make sure you have all the information you need to make a convincing case for your offer.
Collect tangible information
Gather evidence to support your proposal:
Example: "We found that similar apartments in this area sell for an average of 5% below the asking price, due to the need to renovate the kitchen."
Consider technical diagnostics
Regulatory technical diagnoses are essential to know the real condition of the property. Owners must provide you with these documents when selling:
Consult the minutes of the general meetings (AGMs)
The minutes of the last General Meetings inform you about the decisions taken by the co-ownership, such as future work or ongoing disputes. This can influence your purchase decision and your offer.
Example: "The minutes of the last General Assembly mention major façade restoration work, which could justify a renegotiation of the price."
Collect tangible information
Gather evidence to support your proposal:
- Inventory: Assess the general condition of the property and estimate the cost of any work.
- Similar sales: Analyze the prices of recently sold properties in the same neighborhood.
- Comparable properties: Compare similar properties currently on the market.
Example: "We found that similar apartments in this area sell for an average of 5% below the asking price, due to the need to renovate the kitchen."
Consider technical diagnostics
Regulatory technical diagnoses are essential to know the real condition of the property. Owners must provide you with these documents when selling:
- Measurement according to the Carrez law: For condominiums only.
- Risk of exposure to lead : For dwellings built before 1 January 1949.
- Asbestos diagnosis: For dwellings built before 1 July 1997.
- Termite diagnosis: Depending on the area.
- Condition of the indoor gas and electricity installation: For installations more than 15 years old.
- State of natural, mining and technological risks.
- Energy performance diagnosis (DPE).
- Information on the risks of dry rot.
- Condition of the sanitation facility.
Consult the minutes of the general meetings (AGMs)
The minutes of the last General Meetings inform you about the decisions taken by the co-ownership, such as future work or ongoing disputes. This can influence your purchase decision and your offer.
Example: "The minutes of the last General Assembly mention major façade restoration work, which could justify a renegotiation of the price."
Make a reasoned proposal
Once you are well prepared, you can formulate a clear and well-reasoned purchase proposal. This shows your seriousness and makes it easier to negotiate with the seller.
Write your purchase proposal
Formulate your proposal in writing by integrating all the elements of your offer:
Include important terms
Other important points can be included in the negotiation:
Example: "We would like to include kitchen furniture in the sale, and propose a 45-day period for the signing of the deed of sale."
Write your purchase proposal
Formulate your proposal in writing by integrating all the elements of your offer:
- Proposed price: Based on your analysis.
- Transaction Terms: Timing, Financing, etc.
- Rationale : Include the tangible evidence that justifies your offer.
Include important terms
Other important points can be included in the negotiation:
- Deadline : For the signing of the preliminary agreement and the deed of sale.
- Financing : Terms of your home loan.
- Furniture : If some furniture is included in the sale.
Example: "We would like to include kitchen furniture in the sale, and propose a 45-day period for the signing of the deed of sale."
Use the support of your real estate agent
Your real estate agent is a valuable asset during the negotiation. They can facilitate communication and find solutions that safeguard your interests while closing the deal.
Take advantage of his expertise
The real estate agent can:
Example: "Your real estate agent can explain the impact of the roofing work mentioned in the diagnosis and estimate the associated costs."
Make trading easier
Your real estate agent acts as a mediator between you and the seller:
Example: "As a mediator, your real estate agent proposes a compromise taking into account the needs of both parties, thus facilitating the conclusion of the sale."
Take advantage of his expertise
The real estate agent can:
- Interpret technical diagnostics: Help you understand the implications of diagnostic results.
- Estimating the work : By relying on partner companies to obtain precise quotes.
- Deciphering the minutes of the general meeting: To inform you about the important decisions of the co-ownership.
Example: "Your real estate agent can explain the impact of the roofing work mentioned in the diagnosis and estimate the associated costs."
Make trading easier
Your real estate agent acts as a mediator between you and the seller:
- Conveys offers and counter-offers : Facilitates exchanges and clarifies points of disagreement.
- Proposes compromises : Suggests solutions to overcome obstacles in the negotiation.
- Handles the formalities : Helps formalize the agreement once it is concluded.
Example: "As a mediator, your real estate agent proposes a compromise taking into account the needs of both parties, thus facilitating the conclusion of the sale."
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Successful real estate negotiations require rigorous preparation, a well-argued proposal, and the support of a real estate agent. By following these steps, you will maximize your chances of concluding an advantageous and stress-free transaction.
We hope that these tips will help you approach the negotiation of your real estate purchase in a serene and efficient way.
Do not hesitate to contact us for any questions or to benefit from our support throughout your project.
Posted on 20/06/2024 by
Cyril POTTIER
Entrepreneur and founder of the agency GABRIEL FRANCE, my career began in the field of accounting, but my passion for real estate led me to this captivating adventure. With GABRIEL FRANCE, we bring our expertise to every stage of real estate, from purchase to sale, including rental management. Through each transaction, our goal is simple: to ensure your satisfaction.
