There are several approaches to negotiating a successful real estate deal, but all involve a few key strategies. Recognizing the strengths of your position will enable you to execute the most advantageous deal possible.
Foremost, you must completely comprehend that you are negotiating from a position of strength. Many property owners are in a financially distressed state, that is, they are desperate to sell. Recognize that the seller has to dispose of this particular property while you can buy any property on the market. Let the prospective seller understand that you are willing to walk from this deal and you will immediately have the upper hand.
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Buying privately can save you some money on the purchase price, but is it worth taking the risk? I will try to explain both the advantages and disadvantages of using estate agents, and also what you should keep in mind or be aware of.
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When buying a property which is going to cost you hundreds of thousands of rands, shouldn’t you be absolutely certain that the property you intend to buy is in good condition with no major defects/problems?
Beware The CPA And Disclosure Documents
The new Consumer Protection Act (CPA) does not allow for properties to be sold “as is” or “voetstoots” anymore, and the seller should reveal all known defects to the buyer. The problem is that the seller might not always be aware of certain problems, and it might be hard to prove the seller knew about a specific problem when he sold the property.
Today many estate agents will provide you with a Diclaimer and Disclosure document, signed by all parties. This document is for their protection (the estate agent and seller), not so much yours… They will use this document as their weapon against CPA claims if needed.
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