HERE ARE SOME TIPS ON HOW TO NEGOTIATE A PROPERTY DEAL WITH YOUR AGENT

Don't reveal your emotions: Be polite, but if you let the seller know what you are really thinking, it doesn't matter what you do -- he knows he's got you hooked.

Be a "loan approved" buyer: A pre-approved buyer is almost as strong as a cash buyer. "If you are certain of your ability to obtain the necessary financing, you may even want to remove all financing contingencies except appraisal so that you are exactly like a cash buyer," says broker Vikram Chopra.

Offer the seller a higher deposit: Sometimes, deals are done on the basis of upfront deposits that show a genuine willingness on the part of the buyer. But don't overdo it-the idea is to get a fair deal, not a desperate one.

Be flexible about dates: When the seller wants more or less time on a closure, if you give him what he needs, you can almost always assure yourself of some price concession. You may even offer to close the deal and allow the seller to "lease back" the property from you for a short time if that improves the elbow room for the deal, says Rajeev Agnihotri, senior business analyst at zameen-zaidad.com

Hide your closing costs: Though this does not necessarily work every time, sometimes a seller who feels he has received his "selling price" may agree to pay some of the buyer's closing costs as part of the transaction

Ask for seller concessions: From free appliances or add-ons like carpets, or a paint allowance that decreases service costs, you get yourself something in addition to the negotiated price

Courtesy:- HT dtd.05-05-08