Details Published on Wednesday December 27, 2023 1:20 p.m. by the Meilleurtaux Editorial Team
Navigating the tumult of today’s real estate market can be complex. Indeed, constantly rising borrowing rates and high banking requirements make homeownership difficult. However, astute buyers can still influence prices. Here are effective approaches to successfully negotiate and secure your ideal property despite persistent challenges.
The challenges of the real estate market
The French real estate market, hampered by record borrowing rates, saw transactions fall significantly. Sales should therefore decrease by 20% in 2023 compared to the previous year.
Banks, seeking to minimize risks, have in fact strengthened the conditions for granting a loan, thus increasing the amount of contributions. On average,
Important You must be able to justify 90,000 euros in 2023, which represents an increase of 61% over one year, and if we look back over the last two years, an increase of 259% is noted.
What rate for your project?
Faced with this situation, savvy buyers can use various negotiation strategies to lower prices and make their real estate “dreams” come true.
You must establish a clear budget and consult your bank or a broker if necessary.
In-depth knowledge of the local market and sales reasons can be a major asset. However,
It is important to avoid an overly “aggressive” approach.
And once this level has been reached, comes the stage of noting the condition of the property – it is necessary to proceed carefully –, the identification of weak points such as a disappointing DPE, construction projects nearby or any which could serve as an argument to lower the price. Find other negotiation tips by consulting this guide.
A less virtuous strategy, but which is used by cunning buyers, involves applying for the same property with several people.
In discreet “collusion”, the latter ensure that they submit deliberately low purchase offers.
In the end, the highest bidder may manage to win the bid with a proposal lower than the market average. Although this process is a little controversial, it remains a reality that professionals in the sector recognize.
2023-12-27 17:03:39
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