How to Win a Best Property Deal

Bangalore: Buying a house is one time investment for most of us. When it comes to buying a property, investors should know how to make a good deal and win.  As the economic growth has slowed down, the demand for property has also slowed down and this is the perfect opportunity for the investors to get a good deal since developers are facing problems to launch their new projects due to less home sales.

Ramesh Nair, managing director (west), Jones Lang LaSalle (JLL) India, stated that "Developers are going through a phase of liquidity crunch. As home sales continue to be sluggish in many parts of the country, they are becoming more open to price negotiations”, reports Pritam P Hans of Business Today.

Research to know the new trend:

To strike a best deal, research is an important thing to proceed with. It will give you knowledge about the current local market, which is important to know before dealing with developers.  It is better to know the cost of similar properties in and around the area. As properties that are up for sale for longer time periods, its developers will be eager to negotiate.  Ensure that you know to do price analysis, as the activity need lots of research to find out the launch price and the latest price of the property you looking for. Local brokers would be the best to find out the latest price trend.

"Two factors that play a major role in price negotiations are the cash-flow situation of the developer and the number of units he needs to sell. If the developer is cash-strapped and has a lot of unsold inventory, it will like to clear the stock to generate cash. Therefore, the situation varies from one developer to another. The customer needs to gauge that,” according to Kailash Gahlot, Director, Brisk Infrastructure & Developers, reports Business Today.