The Property Insider's Guide to Property Negotiation

Since Carol Tallon wrote the first edition of the Irish Property Buyers’ Handbook back in 2011, the property market in Ireland has changed. More importantly, the world has changed, particularly in how information is consumed. Property buyers need access to the most up-to-date, reliable and immediate information when the time comes to start searching for that ideal property or when it’s time to put in the winning offer. There isn’t always time to get to a bookshop, or to wait for an online order to be delivered, or to wade through lots of helpful though not necessarily relevant content to answer that one pressing property query or to help guide you through one particular stage of the buying process. For times like these, the Property Insider’s Guide series has an ebook for you. This ebook looks at property negotiation. Property negotiation does not have to be feared – it is simply a part of the process of buying a home. Like all processes, it requires input from the buyer and some level of focus to achieve positive results. Pre-negotiation is the starting point. Research – and legwork – will show where properties may be available at below market value, an immediate source of equity in a property. You’ll get lots of Nos – but all you need is one Yes. Learn the different styles of negotiation – and how to react to each. Understand that the best deal for the seller is not necessarily the highest price. Flexibility on closing dates or on storage of furniture for a period after the sale – or even simply that you’re respectful and more pleasant to deal with – may well be more important. You need to understand the seller’s motivations and match your offer to them. Offer accepted, you have one last chance to negotiate a better deal. The structural survey – an essential for every property purchase – may provide opportunities. But remember, if the seller has already come down a long way from their asking price, they will be understandably reluctant to give more in cash terms. But as noted at the offer stage, cash isn’t everything – a little give and take is always possible between a willing seller and a willing buyer. Good luck with your property negotiations!