They say that when it comes to Costa Rica, everything is negotiable but is this really true? Buying a Home in Costa Rica can be as simple and as difficult as you want to make it depending on your conditions for buying a house in Costa Rica. One of the trickier aspects of buying that dream home in Costa Rica is negotiating a good price.
Unfortunately, everyone looking to buy a home is not everyone is a born negotiator but just because you are not one does not mean that you can’t get a good deal for the real estate you want in Costa Rica.
Negotiating the price of a home in Costa Rica involves doing a bit of research and some common sense because when it comes to negotiating the price of a home they are only so many options for the buyer and seller which are: Accept offer, Give a Counter Offer and Reject the Offer.
Here are some useful tips that will help you get the price you want:
Use a real estate broker to serve as an intermediary as it will keep you from the being nervous in the business of talking and negotiating directly to the seller. This is what a real estate broker in Costa Rica is for and that is part of how they earn their pay.
Go in prepare. Today with the internet available at your finger tips, it is easy to look up different but comparable homes in the area of the home you want to purchase which will give you an idea of the value of the home you want to buy.
Keep up with the current market values of home in the area. Is it a seller or a buyer’s market? This will give you an idea as to who has the advantage in the negotiation.
Do not make a ridiculously low offer as that is an insult to the seller and he/she will probably not take you seriously and walk away.
When you make low but legitimate offer, give the reasons why you are doing so which can include repairs, comparison to other properties in the area and so on…
The offer should be made based on the value of the home and not the list price.
For example, take this home for sale in Escazu, Costa Rica.
Land Size: 1,214 Square meters
Monthly Maintenance fee: $300
This spacious home has a list price of $960,000 but is the right value for this home? Is there room to negotiate? Ask your real estate broker for his or her opinion and how they can help you negotiate for that beautiful home in Escazu.
Stay within your budget, if you and the seller cannot agree on the price of the home, do not over extend yourself, other opportunities will come about. Especially since right now, it is a buyer’s market in Costa Rica.
Try to learn everything you can about the seller of the home. This will let you learn the weakness of the seller which can be turned into your advantage. Is the seller desperate to sell the house because he needs the money? Does he need to sell the home fast because he is moving to a different city or country? These are small details that can give you a better advantage in lowering the price of the home.
Don’t be desperate to buy the home by giving yourself options. This means you should have at least two houses you have decided you would like to own. This will not make you desperate during the negotiation as you will know that if the negotiations are not going your way, you can always reply on plan B.