Like any other major purchase, buying your new condo from NumberOneProperty in Singapore will also involve significant financial commitment. Naturally, nobody will like to pay extra price than what they have to.
It will also be nice if you are able to get a little better deal than what you originally expected. In case, you want to talk to your seller like NumberOneProperty to bring down the price, then be prepared with proper research on following.
- Asking price and real market value
To enter into the process of negotiation you must be armed with data about the real market value and also previous selling price. Any county real estate usually records list of condominiums in Singapore that can be best and accurate source to get this information.
You can also get all these records from online or from local office of tax assessor. Few real estate websites can also provide you estimated market price.
- Sale price for any other condos nearby
It will also be useful to know the sale price of the neighbouring condos which is another excellent source to know the information about your preferred condo's value.
Try to research about the asking and also selling price for many other 1 bedroom condo for sale of similar size like yours, particularly those which is either in same complex or any nearby location.
- Condo condition
The price of condo can significantly depend on its condition. In case, the condos are not recently updated, or appears outdated as compared to other condos within the complex, should sell for proportionally lower price.
By showing the seller any attractive condos and their selling price can help you to negotiate to a lower price.
- Various market factors
In case other condos nearby are foreclosing, and many people are going out of that area, or plenty of vacancies exist, then you can demand a lower price.
Similarly, if no other buyers are available or other buyers too are offering much lower price as compared to you, then you can also force the seller for considering a lower sale price.
- Negotiating the deal
After having all above data, sit along with your real estate agents and offer slightly lower price that you are interested to pay because the seller can make counter-offer a price that may be close to what you like to pay.
