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How to negotiate house price in Germany

0:00 - Intro
0:43 - Supporting the seller
1:50 - Don't blindly ask "What's the price?"
2:25 - Know your price?
3:15 - Start below your final price
4:30 - Framing
5:00 - Explain your price
5:46 - Don't be ridiculous
6:14 - Be binding
7:03 - Be prepared
7:39 - Let someone else negotiate for you

How to negotiate the house price in Germany?

Negotiating the house price in Germany is an art and you can do it successfully if you follow the advice shared here under. If you move ahead in a planned way and follow the tips properly, you will buy house at a good price.

1. Support the seller
To begin with, support the seller. Some private sellers don’t want to put in the efforts to arrange for the papers required for selling their house. Encourage them to delegate the task to you by just giving you the power of attorney and putting their signature for the purpose. This will relieve the seller from going to the court and checking with property management, etc. This will, in turn, help you get all the right papers for the property you wish to buy, and also an opportunity to negotiate from an advantageous position.

2. Don't blindly ask "What's the price?"
Ask for the documents upfront and not the price at the first meeting the first thing so that you can take an informed decision. Only after you are sure that the property is right, and it has the right papers, it makes sense to ask for the price.

3. Know your price?
Know the facts and the figures. There are other opportunities available in the market. Explore the amount which you are willing to pay and which you believe is the right amount for the property.

4. Start below your final price
Do it to make the seller feel good about the deal. In most cases, if you do it, and then go above what you have quoted, it will make the seller feel good about the deal. And, you will be in a position to get a good deal.

5. Framing
This comes if you do what has been mentioned above. Here, you can frame and get a good deal at the price already decided by you.

6. Explain your price
Explain why you think the price you are offering is right. You can talk about bank’s evaluations for the said property to justify your price.

7. Don't be ridiculous
Don’t say something which is ridiculous. Be fair and quote a price that’s right and not far away from the market price because if you are ridiculous, the seller may become irritated and just walk away without talking further.

8. Be binding
Show you mean business by producing letter of pre-approved loan or by reaching early for the meeting to show you are serious about the deal.

9. Be prepared
Visit the neighbourhood to bond with the broker. Do similar other such things to show you are well prepared for the deal.

10. Let someone else negotiate for you
If you aren’t good at negotiations, let someone else who is good at it do it for you so that you can close the deal the way you want and importantly at a price you are pretty comfortable with.


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