CHAPTER 5 Negotiation and purchasing

Experienced property developers know that a lucrative development starts with the astute purchase of the site. Paying too much for a site means less profit for the developer. A successful outcome depends on the developer's knowledge of the property and its market value and sound negotiating skills. Aggressive developers do not necessarily always get the best outcome in a property transaction; smart and sophisticated negotiators seek a careful balance between the negotiating parties to achieve an outcome that is mutually beneficial.

As with all transactions, an important first step is to uncover the seller's motive. Are they selling because they need the cash owing to financial difficulty? Are they retiring ...

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