Arranging your finances It is very important that your finances be in order before you start looking for a house. You should secure approval of mortgage from a bank or a financial institution first since if you fail to secure a loan after you have made successful negotiations, all your efforts will come to naught. Try to Work with a realtor It is much easier to buy a house if you have the services of a realtor since he is a professional and is able to provide valuable guidance during the whole process. The realtor will charge a fee resulting in an added cost; however, this will be worth it. Try to understand the workings of the deal If you want to go through the process without the help of a realtor then you must try and understand how the whole thing works. A few sellers do not want to work with someone who does not have professional help. Keep this in mind too. Even if you choose to work all by yourself, you will still need the services of a lawyer for drawing up the contract. Hire a professional valuer When you have chosen a house that you want to buy, employ the services of a professional valuer since he will be the person who will able to make a proper assessment of the house in order to arrive at the true price. Determination of a Reasonable amount The best estimate of the prices can be achieved by carrying out a comparison with other similar houses available in the market. You may also research the prices of a number of houses sold recently in the area. Compare the asked price and the final selling prices of all the houses. The essential contents of the offer Your offer should be in writing and it must contain all the terms and conditions that you want to be part of the bargain. A formal offer should also contain the contingencies that must be fulfilled before the sale is complete. Negotiating In a negotiation, the person with the upper hand always wins. Try to approach the seller with a strengthened position. If your finances are secured or you want to buy on cash, you will be in a strong position. If you know what the seller wants to dispose of his house, it will be an added point for you at the negotiating table. A seller who is not rushing to sell his property will always prove a tough negotiator. The seller will most probably come with a counter offer in response to your initial offer. The counter offer must be reviewed very carefully. You can either reject the counter offer or make one of your own. If you think that the negotiations will take you nowhere, be ready to withdraw at anytime. However, if the seller accepts your offer, consult the lawyer for making final arrangements. Summary Making an offer on a house is a technical process for which you should seek the services of a professional. Secure your finance, calculate a reasonable market price and present your offer to the seller. Always be ready to negotiate since the first offer is almost rejected.]]>
Dr Prem is an award winning strategic leader, renowned author, publisher and highly acclaimed global speaker. Aside from publishing a bevy of life improvement guides, Dr Prem runs a network of 50 niche websites that attracts millions of readers across the globe. Thus far, Dr Prem has traveled to more than 40 countries, addressed numerous international conferences and offered his expert training and consultancy services to more than 150 international organizations. He also owns and leads a web services and technology business, supervised and managed by his eminent team. Dr Prem further takes great delight in travel photography.
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