When searching for a great real estate deal, or negotiating the best price on a home, there are many keys to getting the best price on your next home or condo purchase. Whether you are a first-time buyer, searching for a family home or trying to find an amazing bargain, these tips will assure you get the best deal possible on your next property.
Get a great Realtor® - The single most important factor in getting real estate deals is information; and the key to getting the most reliable, accurate, up-to-date information is a professional, full-time real estate agent. Real estate agents have access to the significant information needed such as days-on-market, history, price reductions, occupancy and keyword searches/private comments.
Days on Market (DOM) – DOM can be used to possibly determine when a seller is becoming desperate to sell. Depending on the market, potential buyers might look for listings that have been on the market for a certain amount of time before making an offer.
History – Having access to the history of the listing will reveal information such as how many times the property has been listed, when the current owner purchased the property and for how much.
Price Reductions – As part of the history of a property, real estate agents can also see if the property has been reduced in price, when it was reduced and how much it was reduced by. There are also dedicated websites, such as www.pricereducedhomes.ca that post the most significantly reduced properties in the Calgary area.
Occupancy – Knowing whether or not a property is vacant is an important factor in getting a deal. Simply put, vacant properties are costing the owner money every month to maintain, which gives you increased leverage when negotiating.
Keyword Searches/Private Comments – Real estate agents have the ability to search listings for keywords whether in the reports or realtor-to-realtor private comments for words such as ‘foreclosure’, ‘estate sale’, ‘motivated seller’ or a number of other terms commonly used within the industry.
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Click Here: Find a Great Real Estate Deal - Part 2