Acheter un bien à bas prix I L'Anecdote #1

Summary

This video narrates the story of a client who successfully purchased a property for €210,000, despite there being higher offers at €235,000. It delves into the strategic decisions and circumstances leading to this advantageous deal, including the sellers' urgency due to a bridging loan and their initial overpricing. The client's tactical approach, informed by the property's sales history and the sellers' situation, allowed him to secure the property below market value. The video aims to equip viewers with strategies to understand seller motivations and market conditions to negotiate better prices in real estate transactions.

Takeaways

• 🏠 A client managed to secure a property for €210,000 when the sellers had already received three offers at €235,000, effectively receiving a €25,000 discount.
• 📉 The sellers were in a hurry to sell due to a pre-relais (bridging loan) with a short duration, which created a sense of urgency and allowed for negotiation.
• 🎯 The property had been on the market for over a year, which is considered 'grilled' in the real estate market, indicating a property that has not sold despite multiple attempts.
• 🤔 The client conducted thorough research into the property's history, the sellers' circumstances, and the market conditions before making an offer.
• 📋 The sellers initially had a non-negotiable price of €260,000 but eventually reduced it to €245,000 after advice from a real estate agency, reflecting the importance of professional advice.
• 🚫 The sellers made the mistake of listing with multiple agencies at different prices, which can deter buyers and devalue the property.
• 📉 After several months without an acceptable offer, the sellers reduced their asking price to €220,000, showing the impact of time on the willingness to negotiate.
• 🤝 The client's successful negotiation was based on understanding the sellers' situation and using that information to make a strategic offer.
• 💡 The client's strategy was to start negotiations with a lower offer (€210,000) and be prepared to negotiate upwards if necessary, demonstrating a savvy approach to real estate negotiation.
• 📝 It's crucial for buyers to ask the right questions to understand the sellers' motivations and the property's history to make an informed offer.
• ⏳ Time was a significant factor in this negotiation, as the longer the property remained unsold, the more likely the sellers were to accept a lower offer.

Q & A

What was the initial asking price set by the sellers for their property?

The initial asking price set by the sellers was €260,000 net to the sellers.

Why did the sellers decide to lower their asking price?

The sellers decided to lower their asking price after failing to receive any offers at their initial asking price and after being advised by a new real estate agency that the price was too high for the market.

How long was the property on the market before the sellers received an offer they accepted?

The property was on the market for over a year before the sellers accepted an offer.

What was the final sale price of the property?

The final sale price of the property was €210,000.

Why did the buyer offer €210,000 instead of a higher price?

The buyer offered €210,000 as a starting point for negotiations, understanding that the property had been 'overcooked' on the market and the sellers were under pressure to sell due to their precarious financial situation.

What is a 'prè-relais' in the context of the sellers' situation?

A 'prè-relais' is a short-term loan, typically ranging from 12 to 24 months, where the bank advances a portion of the funds needed to purchase a new property on the condition that the current property is sold to repay the loan.

Why did the sellers decide to work with multiple real estate agencies initially?

The sellers initially decided to work with multiple real estate agencies to maximize their chances of selling their property quickly, as they believed the market conditions were favorable.

What is the term used to describe a property that has been on the market for an extended period without selling?

The term used to describe such a property is 'grilled' or 'overcooked'.

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What was the main mistake made by the sellers in their approach to selling their property?

The main mistake made by the sellers was setting an unrealistically high asking price and failing to adjust their strategy or price even after a prolonged period without receiving any suitable offers.

Why did the buyer ultimately succeed in negotiating a lower price for the property?

The buyer succeeded in negotiating a lower price by understanding the sellers' urgent need to sell, their financial pressure due to the 'prè-relais', and by starting negotiations with a lower offer as a strategic move.

What advice does the speaker give to potential buyers looking to purchase a property below its market value?

The speaker advises potential buyers to keep track of properties that have been on the market for a long time, as these may present opportunities to negotiate a lower price, and to always understand the circumstances and history of the sale.

What is the importance of understanding the seller's situation and the property's market history?

Understanding the seller's situation and the property's market history is crucial for buyers as it provides insights into the seller's motivations, pressures, and potential willingness to negotiate on price, which can be leveraged during purchase negotiations.