5 ways to avoid low and over priced estate

July 20, 2022by Collins1

The greatest assets a man can get himself is a land or housing property.  Everybody wants a property that reflects his taste and personality.  The environment we resides as an immeasurable impact on us in subconscious way than conscious.

One big mistakes people make in their hunt for a housing property is overpaying.  Then they realize after acquiring the property that have made a big mistake because the property didn’t end up representing the value they had hoped for.

Perhaps you’ve experienced trying to get something on online, after placing the order and you’ve received the package, you realize you’ve been delivered the wrong package (what I ordered for vs what I got).

To avoid this kind of situation when you’re trying to get an estate. Here I list out 5 ways to avoid such situation and not be a victim

Related: 4 Ways you through which you can earn extra income from real estate business in Nigeria

Know your budget

The first thing you need to do before even making any attempt to purchase  a property in any estate is to look into your budget and then look for a property that fit your budget. So you will know what kind of property you’re looking to acquire.

Research the local market for the Property Price

What you judge to be fair price will be affected by

  • What are they fetching right now
  • How How much comparable properties has been sold for in that area
  • many of this property type are in the market

This is very important because that’s how you only know the true value of the estate. The history of the property sale is also relevant. Search online or ask the estate agent about how long a property has been on the market.

Talk to reputable Estate agents

The aim is to build a reputable relationship with the Estate Agent selling the property you want to buy. They may be able to advice on an acceptable offer, based on the seller’s situation. It’s also worth talking to rival estate agent, particularly anyone who has listed the property in the past. They maybe more candid whether the current asking price is realistic or over- priced

Get a house survey

After your offer has been accepted on a property, you should arrange a survey. It’s a good idea for most buyers to commission their own survey, including a condition report as well as a valuation. If the survey reveals unexpected and expensive issues, you could potentially use this to negotiate a lower offer – as long as the saving on the purchase price will be greater than the cost of the renovation.

Ask yourself again, are my not over paying for this property?

You need to ask yourself this question again before proceeding to make the payment for the property. After going through all the process i listed out, you should be able to come up with an accurate answer to this question.

Follow all these process and you’ll be able to get your dream property at a reasonable and fair price.

Visit www.redocint.com/estates to check out your dream properties

 

 

 

One comment

  • Olowoselu Olakunle

    July 23, 2022 at 12:21 pm

    Great

    Reply

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