Published on Mar 19, 2012
Female: welcome again, as we said last tie today we will focus on effective negotiating strategies. What are the some of the important things that will help me Amanda goad she Asians?
Male: find out why the property is for sale for a principal residence the owners may have separated or the owner recalls remain died. The principle way Joyner may also have lost his or her job fallen ill be relocated or is retiring or downsizing, perhaps the owner has lost money and another business and needs to sell the property quickly also consider the sellers emotional state. They may realize that the market is changing and want to get out before there is any more downward trend.
Female: why investment properties for sale?
Male: many investment properties are sold because of the following an inexperienced donor first-time investor who has gone way beyond their scale levels are resources. Many sales also occurred because of the partnership dispute our company that has broken up. Other possible reasons for sale include tax benefits to the seller to particular time or depreciating land value. The estate may also be selling a property after the owner one of the owners has died. Another common reason property is for sale poor management or financial difficulties. These are usually quite evident for management can force a sale whether due to poor property manager owner who simply higher is the cheapest management company to sell the property look for those possibilities.
Male: excess vacancies are another possibility may be they are caused by a rundown building or the fact of the owner has not hired any agents are property managers, financing problems can also be a factor. The building may also be coming up for refinancing or new mortgage the bank lending institution or private lender may be putting pressure on a summer to renegotiate the particular mortgage on the property this person may be having trouble obtaining the necessary finance. It may also be a distress sale which may have legal or financial implications for the borrower. Personal problems that don't concern the investment property directly such as marital health or financing problems may also play a part maybe the investment strategies of the owner have changed and they are moving from this type of real estate investment to another perhaps they have found a more attractive investment for a high return. The owner may also be concerned about a possible downturn and they want to get out even at a loss keeping until you find the reason slash motivation for selling.
Female: can you give any negotiating tips?
Male: here are six things to consider when you are negotiating as a buyer or seller
1. Find out the name of the purchaser of the seller,
2. not just a company as for the buyer request a small deposited tied to the property while you do your diligence is.
3. Have a strike price or threshold price you're willing to pay for the property.
4. Make sure you closing date will meet your objectives.
5. Now the financing terms you're able to secure from the mortgage broker or the vendor themselves.
6. Into this subject clause in the contract so you can walk away from the deal and secure your deposit if the property does not meet your needs or financing is not available.
Female: thank you for your time as we tackle the seventh secret to real estate investing. We will arrange for another discussion later.
Male: thank you.
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