» Real estate negotiations

Commercial Real Estate Buying Tips and Hot Deal

Tuesday, August 9th, 2011

www.facebook.com/jacoremax

 

Buying Tips

Step 1. Find a qualified agent in the area of interest. Experience is the most important factor in selecting a real estate agent in Jaco Beach. Using a qualified and licensed agent in Costa Rica will save you time and money. Not only will he/she do much of the grunt work, your agent will possess a deeper market knowledge, which is especially important in a market without a multiple listing system.

L809 Commerce Parc- Remax Jaco Costa Rica Commercial DealStep 2. Define your interest. Start by developing a complete definition of your requirements. Clearly communicating your requirement with your agent in advance will save you time, and avoid starting in the wrong direction.

  •  Are you going to occupy it or are you buying it strictly as an investment?
  •  What area and vicinity is of most interest to you?
  •  What are your investment objectives?
  •  Are you paying cash for the property if you need to finance it do you have a lender that you work with?

Step 3. Conduct inspection tours. Your broker will help sift through all the undesirable properties to narrow down your search so you can determine which best meets your expectations. As you view the properties try to rank them based on which meet your most important requirements (ie anything you cannot live without vs. what you might be able to work around and those desirable-but-not-necessary items.

Step 4. Make an Offer. Once you are ready your broker can help you write a successful purchase offer opening up open negotiations in order to reach an economic agreement. It will typically two weeks to thirty days to review the legal documentation and complete the due diligence on the corporation and property.

Hot Commercial Deal

Listing ID: L809 * BEST COMMERCIAL DEAL!! 7 High End Finishes

REMAX Jaco Commercial Real Estate

Click here to view more!

Property Features: FINANCING AVAILABLE!! PRICE REDUCED !! Includes 7 retail spaces with high end finishes and 7 more with permits. Within walking distance to the Jaco Beach. Perfect for an office branch or small business locals. 1.410 m2 Invest now!  Fire Sale: $350,000.00 

Request Info from : Hannah Fletcher with RE/MAX Connection

Thank you for choosing REMAX Connection.

www.facebook.com/jacoremax

Tags: , , , , , , , , , , , , ,
Posted in Buying Costa Rican Property, Costa Rica Real Estate Deals, Live from Hannah Rico Fletcher, RE/MAX Newsletter | No Comments »

Sellers Handling a Lowball Offer

Wednesday, February 2nd, 2011

In today’s market, sellers commonly have to deal with the infamous Lowball offer.  The best strategy is to keep emotions out of the mix and “consider it” as a starting point for negotiations.  Regardless of what kind of offers you receive, you can’t take it personally. 

Your motivation is to sell your property and the highest amount the current market will allow for!  Start by asking how the offer compares with recent sales.  This will assure you are negotiating with realist expectations.  Many times a low offer is not an indication of what your property is worth, but rather what the buyer can afford.

Price is not the only way to turn such a situation around in your favor to achieve a successful sale.  Try to find wiggle room by negotiating the terms, here are a few questions to ask:

Is the buyer making a cash offer?  Cash offers are very rare in this market.  If not, try to negotiate as much down as possible.photo_28128_20110126

Is the buyer willing to close quickly?   The average closing time is 30 to 45 days but it only takes the lawyers an average of 15 business days to finish the due diligence process.  A quicker closing can help offset the extra holding cost you would otherwise be paying.

Is the buyer willing to paying closing cost?  Normally closing cost are split equally between the buyer and seller and can add up to a total of 5.2% of the finial.  This may be a good way to negotiate 2.1% extra.

Is the buyer willing to take the property AS IS?  Normally buyers will want to do a walk through and may request repairs or a punch list?  Adding a “AS IS” clause to the offer can save you both money and time.

You have nothing to lose if you property has been on the market longer then 6 months and you are not getting a lot of showings.  Do whatever you can to keep the negotiations open and the terms in your favor. 

With a little teamwork, a conclusion that everyone’s happy with can be obtained.

Contact us if you would like us to help you negotiate the sell of your property.

Tags: , , , , , , , , , , , , , , , , , , , , , , ,
Posted in Live from Hannah Rico Fletcher, RE/MAX Newsletter, Selling Real Estate | No Comments »