Solicitors Bournemouth Blog

 5/10/16

House prices up or down? No-one really knows do they? Here are our house price negotiating tips...(and when you want to buy or sell, please use us for your conveyancing...thank you.)
 
As Conveyancing Solicitors in Bournemouth we are proud to bring you The 10 Golden Rules Of Buying a Property from our friend Michael D'Arcy of Indigo12.co.uk house price negotiators
 
 
1              Do Your Homework
 
Check out the area where you are looking to buy. The proximity to local schools, shops, station etc. Find out about parking restrictions, neighboring planning applications, recent house sales on the same street.
 
If you aren’t prepared then you won’t be considered a serious buyer. Being a serious buyer is a massively powerful way to negotiate. The seller soon realises he has someone that can and will buy…when the price is right.
 
2              Be Hot to Trot
 
Get your finances in place. Have a mortgage offer agreed in principle, have a solicitor on standby. Your offer will be taken a lot more seriously if you are flexible enough to complete in a shortened time frame and have proof of funds. This is also part of being seen as “a serious buyer” by the seller, someone they are more likely to do business with.
 
3              Keep You Own Buyer Sweet
 
Have a sale agreed on your own property and keep your buyers informed of your intended moving dates.  Slightly undervalue your own property to keep the interest high so as not to rely on just one potential buyer. If you lose your own buyer, your leverage is close to nil on your next purchase.
 
4              Build A Professional Network
 
Have a network of professionals at hand that you can rely on to give you expert advice at short notice, such as a builder who will give you a quick appraisal of the costs of any small jobs that may need doing at the new property, a solicitor who will prioritise your purchase or a reliable gardening company who will transform your own garden ahead of you going to market. 
 
5              Keep Your Cards Close To Your Chest
 
Don’t reveal too much to the other party with regards to your budget and/or time constraints. Reveal as much as you want about things that don’t have an impact on the negotiation by all means. The seller’s agent will be doing their utmost to prize as much information from you as possible, which will be used against you when it comes to the final negotiation stage.
 
Remember when it comes to residential house sales, the Estate Agent works purely and legally for the seller.
 
The 10 Golden Rules of Buying a Property continued...
 
 
6              Have a Plan B
 
Of course you want to do your utmost to secure the property, however it needs to be at a price you are comfortable with, which means that you have to be prepared to walk away from any particular deal if necessary.
Having an acceptable Plan B option is always advisable.
 
Therefore simultaneously negotiate on an alternative property that you and your family would be happy to move into if need be. 
 
 
7              Be Flexible
 
Approximately 1 in 3 property transactions do not proceed to completion, often due to inflexibility by one party. Maybe the seller wants longer between exchange and completion. Maybe he doesn’t want to include fixtures and fittings. If you show flexibility with your own status then you put yourself in a much stronger position than your fellow buyers.
 
 
There are always more houses coming on to the market – Zoopla will send you an alert of new properties if you sign up with your email address.
 
8              Be Prepared To Walk
 
There are some very special unique properties in the UK, such as Buckingham Palace or 10 Downing Street, but for most properties, there is another similar house in the same road, the next street or the other side of town.
 
If the asking price is at a level you just don’t feel comfortable with, be prepared to walk away, as there will be another home just right for you, literally just around the corner.
 
9              You Make Money When You Buy Not When You Sell
 
If you overpay for a property you could have many years of regret. By negotiating from a position of strength (having increased knowledge, available funds, being prepared to walk away) your chances of securing the property at a fair & reasonable price is much improved.
 
The less you pay for something the more leverage you will have when it comes to selling. A £30,000 overspend could cost you an extra £100,000 in pre-tax earnings, taking into account capital repayment and interest charges over the lifetime of the mortgage.
 
Discover how to save £100,000 on our website
 
http://indigo12.co.uk/save.html
 
And Number 10…

 Use INDIGO 12 to negotiate for you.
 
It’s often the case that there are properties similar to the one you want already for sale...it’s just that they are being marketed privately or “off-market”.
 
When you have a negotiator working on your behalf it is likely that you’ll get to know about these properties. Having a choice means you are able to walk away from any over-priced deal...more choice, more leverage and better negotiating position.
 
When it comes to negotiating it’s very important to consider how the seller feels about your offer. Make too many random offers and you may seem unreliable.
 
Have a strategy in place; know the value you are prepared to pay and make professionally negotiated offers and you’ll be perceived as a serious buyer who intends to go through with things.
 
Whilst you’ll be thinking like a buyer, a negotiation professional also thinks like a “seller” to unlock the price reduction. That’s the nuts and bolts of what you can expect.
 
Unemotional, professional, and factual negotiation.
 
Guaranteeing you the best and correct purchase price.

7/1/15

National Divorce Week?

This week is the week when many people decide that they have had enough of their current partner and the relationship is not what it was. Something about being together over Xmas and starting afresh in the New Year. Jacqui Forrest, our divorce expert, has some appointments left for late January and early February, (they are £99 for an hour, refunded if you ask us to be your solicitors). 

If you are considering divorce, these appointments are an excellent way to see how the land lies and for your to find out the likely outcome of any divorce.

Feel free to call the office or email help@solicitorsinbournemouth.com for help.

?17/12/14

Alzheimers and Lasting Power of Attorney Solicitors in Bournemouth

This  
https://alzheimers.news-online.org.uk/top-ten-things-to-do-after-a-dementia-diagnosis.html
is a very good checklist with the basics of what to do when someone is diagnosed with Alzheimers. From a legal point of view, a Lasting Power of Attorney is the solution to allow someone to look after an Alzheimers sufferer.

http://www.solicitorsinbournemouth.com/Lasting_Power_of_Attorney

 
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