Following are some tips one can follow before venturing out to buy a house.
CREATE COMPETITION: Buyers should create competition and play one against the other. If you find a flat suitable to your needs, tell the builder what you are getting in the same price in the area.
BE GENUINE: Buyers need to show the developers that they are not window shopping but are a genuine customers. Only then the representatives will negotiate.
SHOW BUDGET LIMITATIONS: If your budget is marginally falling short of the sale price of the flat, make the realtor believe in the fact. " If he is convinced you are a genuine buyer, he might sell you the property lower than the quoted price. No developer will like to lose a buyer. But he will also tell you not to reveal this to anyone else," said Vakil.
MEET THE PROPRIETOR: During negotiating, it is the sales and marketing guys that one deals with at first. These employees have instructions and limitations. If possible, fix an appointment and meet the developer if you keen on a particular property. Things will work differently.
BE READY: Do your homework well. Show the developer money. Take an in principle approval for the housing loan. This will help to raise the developer's interest in you.
FINALLY: If everything fails, advertise in the newspaper's classified column about your needs. Of the lot that will call to sell you a house, there will definitely be few genuine sellers. Shortlist and negotiate with them.
