Continued from last week
We talked about Planning to counter, making a reasonable offer, knowing your seller and the property among other strategies. Today we look at some other Tips that will ensure you get the best deal when negotiating for land in Kenya.
Ask as many questions as you can.
Assuming you have done your background research, we want you to use the information acquired to ask as many questions as possible to ensure you are getting what you want. Don’t hesitate or make assumptions even if it’s something that looks so obvious. For instance, ask about clearing the bushes or repairs before settling for a price because these might come with extra costs as well.
Close the deal quickly
If you are in a position to close the deal at the moment, promise the seller on the same and make sure that you have money to deposit as assurance. If property stays in the market for long, it depreciates and might as well cost the owner lots of money in regards to transport and storage, etc. The best thing is that most sellers know the risks of holding onto the property for a long time. In this regard, they are more likely to accept a quick close even if the price is lower than average. The seller might decide to give you a discount as you will be saving him a lot in regards to maintenance and other associated costs.
Request the seller to cover some or all the costs
There will be costs when it comes to selling and buying property. It’s always a good idea to ask the seller to cover all the closing costs or some if they are hesitant. Some of the fees that you are required to include are legal fees, surveyor fees, logistics, and other charges. If you are able to convince the seller to cover the expenses, then you will only have to pay the agreed price for the property. In many cases, people overlook some of these fees, but they usually add up in the long run especially if you are buying land so you can sell it later.
Don’t be a problem
When you find out that the seller is getting along really quickly, there is no need to go an extra mile to cause unnecessary issues by requesting very hard-to-get advantages like free stuff. If you reach a reasonable price tag for the property, close the deal as soon as you can because trying to be ‘smart’ will only delay the process.
Don’t be impatient
Patience is a virtue, and it would be imperative to practice it in property purchasing. Buying property might be a lengthy process, and you need to be patient. Sometimes it’s good to wait for the seller to make the right decisions or consultations.
Put everything in writing
When negotiating, make sure you have a third party or a witness, preferably a legal assistant who can guide you through. Other than that, make sure that you put everything in paper especially the offer and the counter offers. It’s essential when it comes to reference in the future and also for filing.
Be ready to walk away
Due to the nature of land and property in Kenya, negotiations might turn out to be emotional especially to the seller. In this regard, make sure that you are free of your emotions when negotiating as the seller might discover it and use it against you. Moreover, always be ready to walk away when things don’t work out.
Look out for more tips for First-time land buyers on our blog.