Wind in favour for those who seek House and have access to a credit or liquidity.
Solvent buyers are, currently, the singer voice in all aspects of the real estate market: from the showcase of used houses that sell individuals, passing by houses brand new promoters or the levels of the banking. To take the maximum advantage to this position, several experts shelled the keys to negotiating buyer must know depending on which one you look at.
Ignacio Jiménez de La Iglesia, director of Jiménez de Laiglesia Estrategia and negotiation of real estate, justifies this advantageous reality: “it is the time of the purchaser because weak demand, there is no liquidity, there is a significant ‘stock’ which increasingly weighs more to banks and the Economic Outlook is frankly pessimistic”.
Before such horizon, this expert is clear that “can (and should) obtain purchase prices lower by 30% or 35% from 2007, periods of funding and types reduced”. But to achieve these attractive conditions, the buyer has to know how to play their assets according to the type of seller that he faces.
Thus, if a Bank, sits on the other side of the table Jimenez of the Church recommended to manage the trick of liquidity. “If you have money, you have to be aggressive in the price; If you need financing, you must assert your payroll, recurring revenue and its ability to link to the entity. In any case, have to counter the initial asking price,’ he says.
But before displaying the letter of solvency, Manuel Romera, director of the Financial Sector of the IE Business School, recommended to “go to the usual branch and ask directly for mortgage loans in danger of falling in arrears”. “The entity made of intermediary and provides buyer to the mortgaged in distress, that stays with the House and unpaid credit,” he explains. “Here are the real bargains,” says Romera.
Once approached the positions between the purchaser and the Bank, Economist recalls “must be very well negotiate financing with the mediating entity”. Romera suggests that good conditions today are “Euribor plus 1% or 1.5% and time-limits in accordance with the income of each”. As for the price, “having the floor a discount Beach and important, would be that in calle Velázquez you around 10% 40%, as little”.
Facing new developments in ‘stock’, Romera says that “the bargains are in the small developer is not drowned entirely and that still has certain heritage to sell and thus try to save your company”. Discards the big promoters because there “already sent banks”. “The buyer”, according to Romera, “needs to make her understand that he is their financial salvation and that it will only acquire one of their flats at low prices.” “If you want it well and if not, also”, sentence.
At this point, Jimenez of the Church differentiates between housing on flat and ‘stock’: “who bet by a new project must be very demanding with the quantities to account and the price”. In these cases, “it is easy to achieve improvements in grades, finishes and equipment.” Built properties, warns that it must be known to the promoter: ‘only those who have own Treasury or those who bought the ground before the boom can make interesting discounts,’ warns.
Finally, a very different world is the counter of private flats. José Luis Gimeno, CEO of Noteges, believes that the key in this kind of negotiation is to make an “exhaustive study of market”. In his opinion, both this and the intermediation should borne by a professional “because there is lot of money at stake and is really prepared for it”.
According to Gimeno, the fundamental is “educate the owner of the problem you are having and give reasoning”. To convince him, “should go to the negotiation with data in hand showing that wholesale prices are probably well below expectations”. According to Gimeno, a discount of 20% is not nothing and the only floors that are sold are those that have been adjusted by 40% and 50%. In this direction points Jimenez of the Church: “To look at this market must be familiar with the rates in the area and after passing an aggressive offer”.