5. Prepare to close the deal
While you should always have an upper price limit in mind before commencing negotiations, you can close a deal by manoeuvring the terms of your offer. This includes trying to move on price, settlement terms, deposit and conditions.
Try to offer settlement terms and deposits that will be most suitable to the vendor as well as making offers as unconditional as you can to create a win-win situation.
To increase your chances of closing the deal:
• Organise finance approvals, building reports and contract approvals first
• Have another property as a potential back up so that you can use it as leverage in your negotiations
• Find out if there are other offers on the table and what terms they are on
• Leverage your offer by presenting lower comparable sales to the vendor that will support your case
• Always show that you mean business by presenting your offer in writing
on a contract with a 10% deposit cheque attached