Dallas Real Estate

How to Get the Best Deal in Dallas Real Estate

If you are buying or selling Dallas  real estate, you want to be successful in your business or investment venture. Everybody likes to succeed when they are looking at a good deal and if you follow a few simple steps, then you are sure to be successful whether you are selling or purchasing a property.

One of the key factors in buying or selling a property is negotiation aspect. This can be a complex process if you don’t know what you are doing and novices can often get lost in the process and not wind with a very good outcome in the process of investing in or selling Dallas real estate. Real estate negotiations are very unique and require a delicate balance between what the seller is willing to compromise on and what the buyer is willing to take. Both parties have a vested interest when it comes to negotiating on a sale and a balance has to be found so that the seller doesn’t lose money and the buyer doesn’t overpay. With some give and take on both sides, it is possible to get the best deal so that both the buyer and the seller get what they want out of the process.

The five basic things to remember when buying or selling a land are:

1.   Is it a buyer’s or seller’s market or is there an equal balance of supply and demand?  The current real estate marketing trend will have a large part of determining how you can make a deal and who has to compromise the most in the process of buying and selling. If it is a “fair market” where there’s an equal amount of supply and demand, then the negotiation process takes on an entirely different setting for who gets the better deal.

2.   Who has the most leverage- buyer or seller? If it is a known fact that the person trying to sell a property is in a financial bind, then the buyer can do their best to get the property for a price that is well below fair market value and the seller stands a good chance of losing money on the deal. On the other side, if you are one of many making offers on what is known to be prime piece of property, then it becomes the buyer’s choice if they are not hurting for cash to pick and choose who they wish to sell their property to.

3.   The details can make or break the Dallas real estate deal.  There may be two properties that are seemingly just alike for sale—same size, same price and even the same area. However, are the deals the same? Not always. Sometimes sellers will sometimes make concessions to the buyer such as making roof repairs, painting the house or even pay part of the buyer’s closing cost in order to close the deal. If a buyer gets this kind of deal of the selling price minus a discount that covers the costs of what the seller is willing to give up, but the owner of the other property does not give any concessions, then the buyer of the first piece of land actually gets the better deal of the two. If you’re the seller, you get the better deal on the second property.

4.   What about the money? There are several factors concerning the financial side when making a deal on a property for sale. Is the buyer pre-qualified? Do they have sufficient funds to purchase the Dallas real estate? A pre-qualified buyer is less of a risk than one who isn’t what are the current home loan rates? If they are low, then there are more potential buyers. If they are high, then sellers have a tougher time getting their properties bought.

5.   Who’s the Dallas real estate expert? The seller or buyer who negotiates the deal on their own or a property broker? In a side of the deal where there is an expert, the one with the most bargaining expertise on their side will get the better deal.