subject: How To Buy New Property At Less Than The Market Price? [print this page] The real-estate projects are booked in advance by the people and their possession is taken a few years later when the project is complete. The real estate projects are priced differently at different points of time. Initially, their prices are low and, later on, these increase depending upon whether the extent of development of the nearby areas and the increasing demand factor. For this reason, it is always cheaper to buy the properties at the time of their launch. The difference in the brand value of the builders also differentiates the rates of their properties. But, even if you have missed the chance of booking the flat early and would now like to do so, you can do so at a higher rate. However, if you want some reduction in the prices, then the following tips can help you.
1.Seek discounts from the builders directly: Often the builders have the room for offering discounts in the properties. Since they keep some percent margins for the property dealers in their listed prices as well, there is a good margin of discount which can be availed. The builders, too, are willing to offer discounts till full sales are done. The percent of discount offering might decline in the end of sale since most of the properties have been sold out.
Discounts can even be offered by the dealers either by parting their commissions or by offering the same rates offered by builders, apart from their earnings.
2.Find out whether there are any resale properties: Many a time it happens that people invest money in the properties but have to pull out the money from the investment due to some reason before the project getting over. They put up the property for premature sale with the builders as well as with the dealers. So, if you are looking for cheap deals on the current going prices, then you shall try to find whether there are any such properties for resale. Often, the price demanded for these properties is less than the current going rate and the investor would be willing to exit by getting less profit-margin.
But, how do you find these properties? Normally, these properties are in the knowledge of the builders, but they are not likely to part with the information and might still try to sell at the highest rates. Normally, the sellers of these properties do not restrict themselves only to the builders and spread the word around about their intention to sell since they are in need of money. So, the best chances of finding these lies with the property dealers around the said property or around the office of the builder. This will require some digging on your part.
These two are the most commonly used methods of finding the right property at less than the market prices. The latter method of buying the property in distress sale or premature sale can provide far greater discounts than what are being provided by the builder.
