top of page
Pillars of Justice

Here are some tips for those venturing into the exciting but sometimes daunting journey of buying a

Here are some tips for those venturing into the exciting but sometimes daunting journey of buying a home in South Africa. Arnold Maritz from Lew Geffen Sotheby’s International Realty shares insights on negotiating your first home purchase, emphasizing the need for preparation, strategy, and flexibility.

Before diving into the market, it's crucial for buyers to do their research. Understand the market rates and find comparable properties in the area to form a solid negotiation strategy. Knowing your financial limits is equally important to avoid overcommitting and facing unforeseen financial burdens, taking into account expenses like insurance, taxes, and monthly costs.

Patience and flexibility are virtues during negotiations, ensuring a positive outcome for both the buyer and seller. Seeking professional advice, such as consulting a real estate agent, can also enhance the negotiation process.

Crafting a strong offer involves considering various factors. The property's condition can significantly impact its value, and hiring a home inspector can unveil potential issues that may influence the purchase price. Market trends, seller motivation, and location near amenities like schools and shopping centers should also be taken into account.

When making an offer, be mindful of the price, aligning it with the property's market value and your budget. Including contingencies, such as a home inspection and mortgage approval, adds a layer of protection. A personal touch, like a well-crafted letter to the seller, can make your offer stand out.

If the seller responds, be prepared to negotiate terms, including purchase price adjustments, repair requests, and closing timelines. However, not every deal is worth pursuing. It's essential to recognize when it's time to walk away if negotiations stall or terms become unfavorable. Clear understanding of priorities and deal-breakers, without letting emotions cloud judgment, is key, as there are always other properties in the market.

5 views0 comments


bottom of page