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Haggling 101: Estate Agent

Before you sign any contract, take your chances and haggle with the offer given to you by your estate agent.  You'll never know that you just might get the best deal in buying a property for keeps or for investment. Here are things you must do when haggling:   * Once you've found an agent, give him the price that you like.  Start at a very low price to be safe. Keep haggling and both parties will meet at a middle price.  Compromise is the key.   * Decide on your budget.  Set the highest price you can afford.  Don't force your pocket in paying more than you can afford.   * Clarify with the agent how you plan to buy the property so necessary arrangements can be made.   * Be in the know of how the real estate market is doing.  You have to be aware of the current price trends in the market to be able to haggle effectively.   * Do know the sold prices of the same property.  You can get an idea of how much you can haggle.  Do remember that location plays a key role in the price of any property.   * Find out how long the property has been on the market.  If it's been for sale for a long time, check if the price has been lowered.  Ask for a reasonable price.   * Find out if there are other potential buyers and how much they are willing to pay.  Don't forget the value that you can only afford before bidding. You wouldn't want to go overboard.   * Let your agent know, without being arrogant, that you know what you are talking about.   * More often than not, it works if you don't let it be obvious that you are very eager in buying the property. Let them know that you are considering other properties.   Once you are ready to pay, read the contract very well.  You don't want to get caught up in confusing clauses which might cause a hassle for you.