Tips to Purchasing a Property

Purchasing a new property can be a bit of a tricky business. Here are a few different tips that are available to make this task one that you can easily manage.

Tip Number One
Always offer a price that is lower than what you are actually willing to pay in the closing deal. If your offer is accepted you have just saved yourself a chunk of money that you can put into the new property and the needs that it may have. If your initial offer is rejected you have room to negotiate the price. This shows the seller that you are willing to meet them somewhere in the middle. This tip has made it possible for buyers and sellers to both feel empowered and leave the deal feeling satisfied

Tip Number Two
Be proactive in your letter. Do not wait for a property to go up for sale in every ad in the country. If the property is only listed locally include sentences like, “If your property is still for sale I would like to make you an offer of __”. This will allow you to go on and make your proposition. If the property is not up for sale or publically listed try starting your letter of interest with, “If you are interested in selling your property please read on”. Being proactive lets the potential seller known that you are serious about buying the property.

Tip Number Three
Try planning a visit to the potential property. If the property is uninhabited, check it out before writing your letter. If you find faults or key characteristics that you are looking for point them out when trying to settle a buying price. If someone is living on the property do not show up unannounced because it makes you look like you are immature and disrespectful of the current owners. In your letter of interest you should ask to visit the property with the seller to discuss a few concerns and price. Again, this makes you look proactive and serious to the seller.

Tip Number Four
Ask questions about the property in your letter of interest. If the property you are looking to buy is a business or home ask about the number of rooms. Ask about amenities and accommodations that are included with the property. If the property that you are inquiring about does not have a building or structure ask about the laws and boundaries of the property Ask if the property is land that is commonly hunted on for example. This allows you to become further acquainted with the property and gives the seller a chance to point out key features of said property.

Tip Number Five
Tell the seller why you are interested in purchasing the property. Even those who are initially unsure of whether or not they should sell you property may reconsider if your cause is worthy. This not only settles some of the seller’s questions about the person they are selling to, but it may be a gateway into getting to know the buyer and their connection to the property. If the seller is attached to the property they may wish to make sure that they are selling it to someone who will properly care for it in an appropriate fashion. This could be the deciding factor on whether or not you actually get the property you are writing the interest letter about.