The Property Insider's Guide to Property Negotiation

By Carol Tallon

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!

• Language: English
• Publisher: Oak Tree Press
• Release date: Sep 15, 2017
• ISBN: 9781846212062

Carol Tallon

From a graduate background in law and business, Carol Tallon became the managing director of Buyers Broker Ltd., Ireland’s only property buyers’ agency franchise, in 2006.

Book preview

AUTHOR

INTRODUCTION

Since I 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. I know that 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. I understand. For times like these, the Property Insider’s Guide series has an ebook for you.

Current titles cover choosing a property, property negotiation and making an offer, working with your solicitor, understanding a structural survey report – and more titles will follow, just as fast as I can find experts to share their specialist knowledge and experience. And if there are topics that you’d like to see covered in the series, or you’d like to contribute to the series as an expert writer on your own specialist area, do drop me a line at [e-mail]. I’d love to hear from you!

This ebook looks at property negotiation. It starts by looking at a little-known, but immensely powerful, technique: pre-negotiation. Then it turns to opening and closing negotiations – and explains the difference between the two! Enjoy your reading. I hope you have a successful outcome to your property negotiations!

Carol Tallon

Property Insider’s Guide series editor

Dublin

August 2017

1: PRE-NEGOTIATION

The key to finding motivated sellers

Experienced property buyers and investors know that, when it comes to the practicalities of property negotiating, there are three distinct stages throughout the buying process. Each stage requires a very different type of research, approach and strategy. It is not complicated – time-consuming certainly, but not complicated. In fact, the very idea behind breaking down the negotiations in this way is a direct response to typical human behaviour