Buyers in the current market are in a good negotiating position, but this does not mean sellers will be open to bargaining.
They will still expect to receive a fair price for their property. The best advice if you are serious about a property is to put in a serious, but not overpriced, offer, says the Seeff Property Group.
Be sure to leave a bit of room to negotiate, but don’t take too big a risk. A good property at a fair price will always attract buyers regardless of the state of the market, especially in high demand areas.
Try to get pre-qualification if you require a home loan. That way, you can shop for your property knowing you are in a good position to negotiate. If you put down a reasonable cash deposit, you will be in a better bargaining position.
“If you find a property you really like and it is well-priced, don’t risk losing it. Rather secure it while the market is down,” Seeff says.