 鲜花( 1)  鸡蛋( 0)
|
I’m often asked by people who like to prey on others how to buy real estate in a 4 g+ o3 y9 X7 V; j$ y
falling market, like this one. The danger of doing so is that you buy before the
) L0 E6 J% [4 F" N6 d' E Ybottom arrives, and take a capital gains hit. The advantage is you hold absolutely all : \! [1 k* @4 H, J5 o
the cards, and can strike a great deal while the victim-seller is writhing in pain and ) g/ |6 i* Q$ j" [+ o
begging for mercy. That’s the fun part.
0 u, w, M+ ~ {' [2 x. Z- @2 d9 o0 K' A& S& k
So, don’t ask me if it’s time to buy yet, because you won’t like the answer. But if 8 C/ t1 m! r4 }0 f) ]1 [2 e4 L3 G
you want some tips on being a vulture, for when the moment’s right, then clip this 7 v; b+ A4 S- B& Z# e2 l9 ^3 s+ u
and stick it on the fridge. (By the way, this is another preview of my coming book.)% @, ?" a4 e# b, F" H/ o7 j5 m
* V; Z2 z& ]3 ~7 {5 Y* Offer what you want to pay, not what the vendor is asking to be paid. With so many $ j! N+ J q5 k% ~5 b, q
properties listed, and so little sales activity, every offer has to be taken 5 g8 F1 m8 A1 j% Q0 X7 ]% h
seriously. Only by writing up an offer on your own terms, at your own price, will you
& ?4 O( R% f% z) t0 A/ _( O/ Uget a sign-back showing the true level of desperation you’re dealing with.; W' D2 Z6 M) }& H3 I
1 c; A. d. j% L) e( B, w* Always submit the offer with a deposit cheque, which is like putting a shiny lure on 7 X7 G: T8 l3 c( q7 ~, u
the end of your fishing line. However, the offer must stipulate the cheque is not
& C& \ v3 f4 H6 Z8 |# ?* Vcashable until a firm and binding agreement is reached. So, it means nothing, while
; c' z- O6 O& I) @. m7 V1 lhaving a powerful psychological impact.# Q7 C# K6 C7 V/ {
! a! B+ W2 e; c' f
* Throw in as many conditions as you want. This will create an offer that is 6 i4 \3 D5 I; r V d. s
completely tailored to your needs and wants while providing elements you can remove in
, [, X8 a s$ m& ]$ \order to gain things you truly want. So, for example, make the offer conditional on
5 t3 Z: a9 z+ w% |8 z/ Hthe vendors paying all your closing costs, including land transfer tax. While you
+ e# c9 S, z) l7 N. W/ J* n; Q* H: n% gnever expect that to happen, you can remove it during negotiations in order to get
! N V. S5 L# q' k1 T4 i+ r9 Gwhat you do want and expect, which is a bargain price.
1 q+ C5 h2 `; K8 S" W
7 @: d% K# y! r, ~* Ditto for conditions giving you time to arrange financing or even to sell another
/ Z1 N3 w d+ H5 eproperty – they are both traditional deal-breakers, and the vendor’s agent will know
" a8 g9 B1 Y7 u2 f- U. Othat immediately. So, by reluctantly removing them you move far closer to getting that # R2 t/ m! v8 M2 R1 x/ _
price.
5 ^# W4 Q; e1 L6 [# F3 E; h( N- b2 D0 U+ ]& ~& E) I9 O2 ?- v
* Best, however, to insist on a home inspection. This condition should give you five
& D- H' \; u- a: U; m6 A" obusiness days to complete the process, and is normally done at the purchaser’s
* d$ p w6 z$ p' |/ ~7 Yexpense. The reason you want this is because almost all properties need some kind of
0 _6 L3 n8 y, c* _3 L8 Z iwork done in order to make them perfect, and when you get the inspector’s report you
8 U1 O8 A2 z4 v% J b% Ghave leverage to help you drive down the price. Simply get an estimate of the cost of
- ?4 u! p3 ?2 }- ythe repairs and ask for the deal to be rewritten with a price reduced by that amount. 5 \$ v5 c- s) k0 d7 y- c6 o: u+ D5 ]
Since the vendor knows the condition is entirely for your benefit and the deal will
% g" i% X: e: W! A7 V0 @die unless you sign a waiver, well, guess what? Vulture.8 `) u7 l3 y3 h4 f+ t) f
/ |- M# w& ` r2 R* And remember that the closing date is also an important poker chip to play. Have
8 W' c4 z0 ^- ^your agent find out what the vendor wants, and then use that to help leverage the ! r% \/ r6 C& S* y! g6 u
price down. Additionally, you can throw any assets you see around the property into $ L, U' O) ]& S" k+ p" \
your offer – power tools, appliances, lawn tractor, Harley-Davidson, whatever. The
6 }9 I, t/ q! L& a' c) k+ u2 h- Tmore you put in, the more clutter there is for the vendor to wade through, and the
& R4 D( V5 Z6 Tbetter chance you have of securing the best deal.
# k1 ?7 E3 Q3 Q1 z2 s
& v$ G4 e u& m4 ]; s( B& `* Speaking of which, why not make two offers at the same time on two competing 0 e, z9 B: `' c* z8 a
properties, and then let that fact be known (through your agent) to the vendor? That 9 _: K: w* F" T- k x5 r3 Q
will add even more pressure to the poor guy, as he tries to figure out what he must do f) m/ N, f% }% f: v0 n5 o% ^4 F
to save the deal, and give you what you want. This may be cruel and unusual, but just / K: ~, U: F- g# L4 P) w$ J/ T4 z
consider it payback for all those multiple-offer situations greedy vendors placed : H3 b7 \( g# E# V ^6 e
buyers in during the bubble years.' p" h. g, c; _$ I8 R
) E5 t( z0 n0 s% T
* And, of course, you can make a low-ball offer, get a sign-back, and then just let it
2 z" L! P& Q$ P, n7 mdie. Wait a week and go back in with another one, for the same low price. Odds are you
+ K' N+ f2 N! F% \$ a: S3 G; S6 ^will not get the same response this time. The stressed-out vendor may hate you, but 6 X0 f9 x" n% [) X
he’ll close. |
|
狗仔卡
发表于 2008-11-29 10:10
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
