Make sure that you hire your own property inspector and don ’ t rely on a report that the seller provides .
If the seller is paying for the report , the seller could also influence what is in the report or limit the scope of the report which could be misleading for a buyer .
5 . Understand the Seller ’ s Motivation
Understanding why the seller is putting the property on the market can give you valuable leverage when negotiating the price . Sellers who are in a hurry to move might be more willing to negotiate than those who are not under time pressure .
Key Steps :
• Ask Direct Questions : In some cases , asking the seller or their agent about their reason for selling might give you insights into how motivated they are . Are they facing a relocation or trying to sell quickly due to financial circumstances ?
• Look for Signs of Motivation : If the property has been on the market for a long time , the seller might be more willing to accept a lower offer . Similarly , if there have been multiple price reductions , it could be a sign the asking price is too high .
Sadly , the 2 D ’ s , death and divorce , are often motivating factors that can lead to quick sales at below market prices .
6 . Know the Neighborhood and Future Developments
A great property in a declining neighborhood or one with questionable prospects might not be a wise investment . It is essential to assess the area in terms of its long-term value .
Look at how other properties in the neighbourhood have appreciated over time and whether there are any planned developments that might affect the desirability of the area .
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