Price negotiation when buying a house

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Price negotiation when buying a house

Tip 1: estimate demand

How much room for negotiation is depends crucially on the demand. With many interested parties, the seller has a very good negotiating position. Then discounts are very unlikely. The property search gives you a good feeling for how popular apartments and houses are in the search area. If the seller has hired a broker, it is best to ask them about the number of interested parties. The duration of the offer can also provide information about the attractiveness of the property.

Tip 2: Determine the exact value of the property

For the search for the property of your choice, we have put together some tips for you on how to estimate the general price level in your search area and how to determine the value of the property. So stand for example

  • Online valuation tool & real estate marketplace Scoperty
  • Real estate price databases of the media and
  • Housing price index of the Real Estate Association Germany

available as a means.

If the price negotiation is pending when buying a house, a market value appraisal can also be drawn up by a professional appraiser who, above all, takes a closer look at the building fabric. This is possible, for example, through the local expert committee . The service can cost around 1,500 euros, but is often a sensible investment. If, for example, a major maintenance backlog is detected, this can lead to high price discounts.

Tip 3: Check the minutes of the last owners’ meeting

When buying an apartment, it is advisable to read at least the last three minutes of owners’ meetings carefully. You should pay particular attention to the following points:

  • Are repairs or modernizations planned?
  • What are the interests of individual co-owners?
  • Are there residents who do not pay their house allowance?

Tip 4: Collect arguments for the price negotiation when buying a house

In order to lower the purchase price, you need plausible arguments. You will find what you are looking for, for example, when examining the situation:

  • Are there kindergartens and schools nearby?
  • Where are the next shopping opportunities?
  • Is the area a social hotspot?

But it is also worth taking a closer look at the condition of the property:

  • Does the heating have to be replaced soon?
  • Are there any lead pipes that need to be replaced?
  • Are there damp rooms or basements?
  • Are the windows just glazed?

You should obtain offers for repairs in advance if possible. So you can argue well and lower the price. But also a disadvantageous equipment like

  • missing garden,
  • no balcony,
  • no parking space or
  • no elevator

can enable the negotiation at a lower price.

But be careful: When negotiating a house purchase price, do not list all the points that come to mind. Badmouthing the house can annoy the seller. Focus on the most relevant issues. You want to purchase the property!

Tip 5: Set your own offer price plus the upper limit

In preparation for the price negotiation when buying a house, you should define the price with which you would like to start the conversation with the seller. It is also important to set an upper limit. Of course, it must also be based on what is financially feasible for you. Interhyp’s advance advice will help you assess your financial framework . This is important so that in the heat of the moment you don’t accept a price that you later regret.

Tip 6: plan the type of conversation

The actual price negotiation follows the preparation phase. The house purchase can now be sealed. As a rule, the two parties meet in person, since a larger amount of money is ultimately at stake. Anyone who knows that they are rather insecure and nervous in such situations could also arrange a phone call. Often there is also less hesitation over the phone to haggle over the price.

Tip 7: reduce ancillary purchase costs

When negotiating the price for buying a house, the additional purchase costs should not be forgotten. A big item is the real estate transfer tax. While the tax rate is set depending on the federal state, there is a certain amount of leeway in the purchase price of the property, which is used for the calculation. Inventory such as a fitted kitchen can be deducted. The brokerage fee also offers savings potential. It is common in Germany that this is completely taken over by the buyer, but this rule is not set in stone. During the price negotiation when buying a house, you can agree with the seller that he will pay half of the costs.

By the way: You should know: The purchase contract must be available to you at least two weeks before the notarization so that you can still examine the contract in peace. Here more information to it.

Important: It makes sense to know what budget is available before you start looking for a property – this is of course the most important prerequisite for price negotiations. Those who seek advice on financing in good time receive planning security. The seller of a property can also be better convinced with a pre-checked financing concept. Interhyp therefore offers free advance advice.

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