Chapter 10: Negotiating the purchase
A capital growth strategy is all about buying a well-selected property and hanging onto it for the long term, watching as its value goes up and up. But the quickest way to ensure that property jumps in value is to pay less that it is worth at the time of purchase. To do that often takes good negotiation skills.
Think about it. If you were to pay $460 000 for a property that you estimated to be worth $500 000, you’ve already achieved your first 9 per cent of capital gain before you’ve even walked out the door.
Good negotiating is all about preparation, not being afraid to ask for what you want, knowing when to shut up and listen, and knowing when it’s time to walk away. Good negotiation skills are something ...