Tips For Negotiating The Price Of A Property In Turkey

Silk scarves, handmade jewellery, and aromatic spices are all on display

. However, where are the prices? This is where the bazaar is different from your supermarket or department store back home, because there are no set prices. The merchant will state their selling price, and you are free to haggle, barter and negotiate the price down until you can purchase your Turkish souvenir at a price that makes you both happy.

When you apply the attitude of the outdoor marketplace to the home buying world, it can work the same way. You can negotiate the price of a property in Turkey as well, carefully bargaining until you find the magic number that means a happy seller and a great deal for you.

Negotiating the perfect price for your property in Turkey is a delicate balancing act between trying to reduce the asking price and still offering enough so that you do not lose the sale. It can be very challenging, but here are some tips for negotiating the price of a property in Turkey:

- Be ready to buy. If you have a deposit saved up, have been preapproved for a mortgage, and have no obstacles standing in your way to buy a property, you will be in a better position to negotiate. If you can say to the seller that you are ready to begin the buying process right away, you might have the edge over another interested party.

- Compare the asking price of the home to others in the local area. Look for the average price on the street and also the average price of similar sized property in Turkey in the same area. If the asking price that the buyer has stated is higher, you can then show them your research and ask them why their price is higher. If they cannot come up with any valid reasons, you can suggest a price which corresponds more to similar homes in the same area.

- Understanding the sellers motives. If you can understand why the person is selling their property in Turkey, you can have a better idea of how to negotiate. For example, if the property is being sold in a divorce negotiation both parties are usually keen to get rid of it and put the painful past behind them. However, if the buyer is waiting on a chain of other properties to sell before this one can go through, you might find that the buying process takes longer.

- Try to find out how long the property has been on the market and how many offers they have had during that period of time. This will give you an idea of how desperate they are to sell and how eager they might be to negotiate.

When you have gathered all of this information, get together with your estate agent and make an offer that you think is fair.

Do not offer your maximum price right away, offer a lower amount instead but let the seller know that you are willing to negotiate. You might go back and forth a few times, and if you are firm and fair you will arrive on a price for the property in Turkey that you are both happy with.

by: James P Martin

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