How To Negotiate a Property Purchase

Рет қаралды 51,879

Күн бұрын

House price negotiation UK is key for property investment. How to negotiate a property purchase is what I cover in this video. Not only do I cover 5 tips to negotiate like a pro but also advanced property negotiation. When negotiating house price or trying to understand how to negotiate a house price, understanding the other side is imperative to a successful outcome. Enjoy these house buying tips so you can negotiate property deals that can be very lucrative.
#HousePrices #PropertyPrices #NegotiateProperty
If you have a question you want me to answer, then please put it in the comments section. If you enjoyed this video, please do subscribe so that you are notified when I release more videos just like this.
0:00 - Intro
0:43 - How people make decisions
2:21 - Information you need and what you should look out for
3:26 - Understanding who you are dealing with and what their needs are
4:26 - How to build rapport and connection
7:05 - How to get the owners attention
7:55 - What kind of first impressions you should be making
10:39 - Verifying the information and filling in the blanks
15:04 - What to say and look out for before making an offer
20:33 - How to make the actual offer
23:00 - Another way to make an offer or two
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Thank you for watching my name is Saj Hussain Your Partner for Wealth Creation Through Property.

Пікірлер: 99

@AronW4 Ай бұрын

love this logical approach about how much is it worth to you. We recently had an offer accepted and here's my justification, it may help someone: House went on for 350,000 reduced to 335,00 after some time, (owner needs to move out for a bungalow for a better living standard for them.) New price drew in allot of interest to the point It had an offer already which was being considered. The house is in a good area, lots of land space, off road parking, double garage, good school catchment and matches price mark of other houses that are in worse areas with less of everything. To us we would of paid the asking but to not be too hasty with emotions and to compete with the other offer, I went in at 330,000 with a caveat of a second viewing which they gladly accepted and after that the offer was accepted! For a while I thought it was too easy and I must have overlooked something but after re-checking everything we believe what we have is amazing for us and there is nothing on the market better in our area for the price. We even took a builder family member with us on the second viewing and they approve.

@teiubesc1708 Жыл бұрын

Love your videos. Thank you for being so open and educational.

@mrsupershaf 2 жыл бұрын

Great Video Saj. Thank you for your tips

@neilcharlton Жыл бұрын

Be great to get an updated version of this for 2023 onwards 😊

@pamsimpson3964 3 жыл бұрын

That was absolutely brilliant, Saj. Thank you for your top tip on over offering to secure the deal. I'm certainly going to use it.

@TheSajHussain 3 жыл бұрын

You're so welcome!

@vinprm 2 жыл бұрын

Probably one of your best videos. Great tips and good revision!

@TheSajHussain 2 жыл бұрын

Wow, thanks!

@charlesstevenson3647 7 ай бұрын

Very value packed. Thank you.

@charlesstevenson3647 7 ай бұрын

Oooh, crafty! I love the ".... include the curtains..." approach. Very Ninja!

@bodymindgateway2902 Жыл бұрын

Awesome video Saj. 👌🏽

@anthonyacquah-ghann8667 3 жыл бұрын

Great video. Really got some quality knowledge from this!

@TheSajHussain 3 жыл бұрын

Glad it was helpful!

@lorenavincent776 Жыл бұрын

Very good information. Thank you

@barmy_irooni 3 жыл бұрын

Great advice & knowledge as always Saji much appreciated, keeping making these wonderful videos

@TheSajHussain 3 жыл бұрын

Glad you like them Hamid. Thank you.

@mogheesmir 3 жыл бұрын

Another great video Saj! I have been in sales for the past 15 years and your tips and tricks are definitely transferrable outside of property. The silent pause is a favourite of mine :)

@TheSajHussain 3 жыл бұрын

Absolutely! Thank you Moghees.

@jacquelinepaul9731 3 жыл бұрын

Great tip about the cup of 🍵 tea..I'll start accepting from now.

@TheSajHussain 3 жыл бұрын

👍🏼

@remarastadas1248 3 ай бұрын

Great tips😊

@rajaraza4037 3 жыл бұрын

Great video but i'm afraid negotiations don't work now a days. Market is crazy. For a decent property in a decent area you either pay the asking price or lose out. That pause after the silent tip was hilarious 😂

@TheSajHussain 3 жыл бұрын

😁

@fuzzynavel 2 жыл бұрын

Depends what your definition of "decent property". Some people swear by the thought of buying the worst house on the best street to force value on the property.

@kashfortheking Жыл бұрын

If a lion operated that way, it wouldn’t eat.

@mohammedbabu6959 2 жыл бұрын

Thank you Saj…👍🏼

@TheSajHussain 2 жыл бұрын

Welcome 😊

@johnmcmaster8307 Жыл бұрын

Absolutely wonderful video from Australia

@TheSajHussain Жыл бұрын

Thanks John. I have more content on the channel, hope you stick around.

@runumiah2459 3 жыл бұрын

Amazing 👏

@TheSajHussain 3 жыл бұрын

Thanks 😄

@lindokuhleemmanuel4978 2 жыл бұрын

Hello thank you so much for this content ,this is what i was struggling with ,very helpful thank you so much .im from South Africa in Durban,

@TheSajHussain 2 жыл бұрын

Thank you so much. It always great to hear from an international audience.

@inforealcare7486 3 жыл бұрын

Thank you.

@TheSajHussain 3 жыл бұрын

You're welcome!

@umairahmad4711 3 жыл бұрын

Great video because I will definitely use this to improve my negotiation skills.

@TheSajHussain 3 жыл бұрын

Glad it was helpful!

@bakieliacik5949 3 жыл бұрын

Thanks So Much Such a Great Video

@TheSajHussain 3 жыл бұрын

Glad it was helpful!

@angiej4865 Жыл бұрын

Good advice about dealing with agents....I just want to shout at one agency who have overvalued a property and just don't seem to understand that having no deeds, unconfirmed boundaries and poor condition are detrimental elements....🙄

@Keephopealive2013 2 жыл бұрын

Nice tips

@TheSajHussain 2 жыл бұрын

Thank you

@Dr.Cluefinder Жыл бұрын

Well done mate 👍

@TheSajHussain Жыл бұрын

Thanks 👍

@lijie2511 Жыл бұрын

A year later it is a buyers market now. Can you believe when I asked the agents the lowest offer the sellers would be willing to accept, 66% told me if I go over the asking price by 5k then the seller will definitely take it? P.S.: they know I am a cash buyer.

@RyoHazuki1 Жыл бұрын

Estate Agents need to start going out of business before we start seeing realistic asking prices. I bought my first house in 2011 and it was such a simple, easy process - a fair priced house and I knocked 10% off. Today, I'm offering on more expensive houses that are overpriced by 25-30% based on very detailed research of sold prices. It's just a crap experience.

@ianh9871 3 жыл бұрын

If i really what a house I outbid to get it, 20 years later that extra £5 -10k is insignificant. Value and potential over price every time

@TheSajHussain 3 жыл бұрын

Absolutely!

@damme91 4 ай бұрын

depends on demand in your town. i don't understand why anyone would pay more doing that is foolish that's how you end up with negative equity on a property. it pays to do your research

@victoredwards3959 2 жыл бұрын

Unfortunately, all this won’t apply in a seller market. In fact right now people want extra money , and agents are now using , guide price or offer over the real price. So this is not applicable right now .

@TheSajHussain 2 жыл бұрын

Some things are market specific

@victoredwards3959 2 жыл бұрын

@@TheSajHussain absolutely, and thanks for all your helpful advice for young landlords like myself.

@user-oe9gv1nz3t 3 ай бұрын

Great video. How to deal with "Guide price".

@claudbob1849 2 жыл бұрын

Saj, thank you so much! Great succinct video...Step 3 was the 'golden nugget' as just had our home valued y'day and we so don't agree with agent's valuation. I'm currently trawling KZfaq to find out what 'formulae' is used to value UK homes as the proffered - 'quarter of a mile radius from your front door' just seems like nonsense!! Tell me - What if our neighbour HAD to sell their home for £350,000 out of desperation a year ago but houses on the road typically sell for £420k, how can their sale price be used as a fair representation for a comparable sale price for our home?? New subbie👌

@TheSajHussain 2 жыл бұрын

Agreed

@aj7803 3 жыл бұрын

Thanks Saj. A lot of these tips are also useful for FTB'ers. Also when are you going to do another video in cannon hill park? :-)

@TheSajHussain 3 жыл бұрын

Thanks, as soon as a the sun is out 😎

@BarcellosIgor Жыл бұрын

I will apply this video while buying my first property this year (I am sure I can find someone desperated to sell it) and if it works expect to receive a thank you at your mail box :)

@TheSajHussain Жыл бұрын

Best of luck!

@NottinghamAzn 3 жыл бұрын

I'm always first. Shahid

@TheSajHussain 3 жыл бұрын

Thank you Shahid.

@arfanmedni7294 3 жыл бұрын

Go on Shahid

@HDY0903 3 жыл бұрын

Thanks for the awesome video saj. Can you please make a video on investing in city centre apartments and is it actually a good investment. Manchester city buy to let is going crazy as well as Birmingham.

@TheSajHussain 3 жыл бұрын

Will do soon. In the mean time you might find this one useful kzfaq.info/get/bejne/i5dnfrxlm8fKo2g.html

@cu99460 Жыл бұрын

Hey, Saj. I'm interested in buying a property. Viewed it yesterday. The agent showed me the house and the owner was at home. I managed to get the owners personal phone number, which the agent wasn't happy about. The owner said to give him a call if I wanted to view the property again with my wife (who was present at the time). Is it a good idea to speak to the owner without the agent there and start a negotiation with the asking price? Please advise. Really love your channel and content. Regards, Mickey.

@dgngas Жыл бұрын

A really great video! If you get to see this by chance Saj - Thank you! I'm a gas engineer from London but at the beginning of my property journey (not started yet - still trying to gather knowledge). Hopefully get to attend a couple of your networking evenings soon. Ravinder Singh

@TheSajHussain Жыл бұрын

Nearest one is 16th May - hope to see you soon!

@kimtutorials3116 7 ай бұрын

Great video, the only bad thing is the sound in the background

@yasinahmed375 2 жыл бұрын

Thanks Saj, very useful. Hope you have a great eid! I did wonder during the final stages and once surveyor has provided a full report. Is it worth sharing the full report to the seller or estate agent as evidence of issues? Or is it best sending snippets from the report? Thanks

@Carolinapetroska Жыл бұрын

Unfortunately in many countries the price at which the property sold for is not published anywhere so nobody knows and seldom the agent wants to make that extra effort to find out on each single property you are interested in buying.

@David-yn5bs 3 жыл бұрын

Tricky question for you Saj, upon registering and views, how does a buyer respond to the agent when asked what their maximum budget/ price they're will to pay? Btw this has been my favourite video!

@TheSajHussain 3 жыл бұрын

It is tricky. You can give this information, but it's doesn't your budget is what you are willing to pay.

@David-yn5bs 3 жыл бұрын

@@TheSajHussain But Saj, let's say the agent knows you have a max budget of 120k how do you compete and negotiate for something lower, at say 100k. What words would you use??

@arfanmedni7294 3 жыл бұрын

@@David-yn5bs I went back for another viewing and took my dad, as a builder, he made comments like that needs replacing , this needs doing. Ten grand!. Using that I told them it needs work hence I have to take that into account with regards to the purchase price.

@David-yn5bs 3 жыл бұрын

@@arfanmedni7294 Excellent, what a brillant tactic you used, even if it wasn't intentional. Don't have any mates who are builders though but the overall idea is fantastic. Thanks for sharing that buddy!! :)

@ruinunes8251 2 жыл бұрын

@@David-yn5bs If you don't have any mates who are builders, get some knowledge about the cost to refurbish a house/flat in case your new purchase needs refurbishment and negotiate the price when making an offer based on the work that the house or flat needs. I have seen some houses for sale with an unrealistic price tag. Then a few weeks down the road the prices drop because no one buys them due to the sellers asking a fortune for a house that need thousands and thousands in order to bring to modern day standard. Does your new place need a boiler? Does it need new carpets? Does it need old wall paper off the wall and plaster it? New kitchen? New bathroom? These and many more are things to have in consideration when making an offer. Remember, your profit is made when you buy the property, not when you sell it. If you buy a property for the wrong price, then pour thousands in it in order to bring it up to scratch, you may/most possibly will end up negative.

@Steve-nz6ek 3 жыл бұрын

Great video Saj, how frequently would you say you make an offer on a property?

@TheSajHussain 3 жыл бұрын

Regular follow ups are key. Frequency depends on the deal, e.g. SSTC, Direct to Vendor, just listed by agent etc.

@jasminrahman4378 7 ай бұрын

Great video. Unfortunately it's not working with me.

@mugstore99 Ай бұрын

*What if the house price says 'Offers in Excess of £400,000' How mush should i offer?*

@desib6596 3 жыл бұрын

Great video again Saj. I have actually started negotiations today on purchasing a property. Its in a much sought after area, I've put a full ask offer in now the agent has come back and said the seller now wants more money, very annoying. Any advice how I can move forward would be appreciated.

@TheSajHussain 3 жыл бұрын

It is a tuff market and some sellers are being greedy.

@desib6596 3 жыл бұрын

@@TheSajHussain it very much is a tuff market and because of that, both sellers and agents are abusing the situation. If I have to walk away because seller is not being realistic then I will have no choice but to do so. Keep up the great videos and advice 👍🏽

@wojciechwoszczynski6693 3 жыл бұрын

How long property is on the market? 2021... usually about first viewing day and they are gone 3-5% + of asking price... end of negotiations.

@TheSajHussain 3 жыл бұрын

It's a tuff market.

@Dani-qc3th 2 жыл бұрын

In theory sound good but end of the day who's pay more is buying the house maybe you have a chance if the offer is same.

@TheSajHussain 2 жыл бұрын

Yes this can be the case in a strong market, like Summer 2021. But things are settling in the market place.

@MrCommandert10 3 жыл бұрын

How do you know if someone else actually offered on the property? Can agents bluff?

@TheSajHussain 3 жыл бұрын

They shouldn't but could bluff.

@Carolinapetroska Жыл бұрын

Of course, agents bluff all the time.....

@ManiSingh-hn7ff 3 жыл бұрын

Great video Saj, thank you. When agents ask for mortgage in principle and proof of funds, regarding the latter if you are planning to negotiate this deal and intend to use investor money not yet secured and dont have a deposit yourself, how would you work around this? (intentions are to flip the property) saying that, would you still need a mortgage in principle if you are hoping to purchase using all investor money again not yet secured?

@TheSajHussain 3 жыл бұрын

You can get a letter from a Bridger that they are happy to lend in principle. You don't have to use the bridge to complete the purchase.

@ManiSingh-hn7ff 3 жыл бұрын

@@TheSajHussain I see, brilliant tip, so there's no need to go to the high street banks to get a mortgage in principle really leaving foot prints on your credit file etc.

@tarakkhandakar 3 жыл бұрын

Hi there , me and my wife have offered 248500 on a property that's up for sale for 290000. it's been on the market for 22 months and had no serious offers. owner died and now the daughters own it who both live in the US. 1 property in the same building sold for 260k in December last year and one across the court sold for 245k in March this year. we are cash buyers after the sale of our current property. did we do the right thing?

@TheSajHussain 2 жыл бұрын

Yes, as it needs to work for you regardless of the asking price. It doesn't mean you will get the property though.

@Carolinapetroska Жыл бұрын

You did. Maybe you could have gone up a little and if they were still not open to negotiate, well, next......

@Keephopealive2013 2 жыл бұрын

I am a property owner but currently renting in another town due to work move. I have learnt that the property I am renting is about to come to the market for sale. I want to make an offer before the property comes to the market. I have never communicated directly with the landlord. I have only communicated with the agents so far but not with the seller/landlord directly. I do not have the contact of the Landlord but can write a direct letter to their address. I cannot see them under the pretext of a viewing as they dont live in the property. What is the best way to get to speak directly to the owner. I tried to guage what the asking price may be through the agent but they came back to say the owner didnt provide a price yet but is happy to entertain an offer

@TheSajHussain 2 жыл бұрын

There are many ways to find the owner. E.g. land registry, details may be on your tenancy paperwork, ask the neighbours, google them 😀