Tips to Better Negotiation

Experts from the finance side always tell you to negotiate for a lower price on everything from buying an expensive car to purchasing your home. But this requires you to do two things that are kind of uncomfortable in any situation – talk about money, and try to get someone to do you a favor. But we are presenting some tips that are sure to help you make the whole thing less painful.

1. Homework always helps

Most important is the fact that having good information beforehand is one of the key principles of negotiation. How to Convince, Collaborate, & Create Your Way to Agreement says that if you have done your research and understand the reasonable value of the item in the market and understand what you are willing to pay, you will be in a much better position to support the reason you are negotiating for a better price.

Well, doing your homework isn’t just about finding out what the typical going rate is for something, although that’s just a small part of the process. It is also about knowing when you’ll walk away.

It important to note that before you negotiate on anything, you need to ask yourself how important it is for you to get it, and at what point you’ll be willing to walk away.

And the way you negotiate for something you absolutely need, that day will be different than the way you discuss something you could buy at any point in the next six months. And if you know beforehand what constitutes a good deal to you, you won’t get dampened by anything.

2. Make your thoughts clear

Clear thinking always helps in making the right decisions and people often shortchange themselves by assuming certain items are non-negotiable, or by assuming negotiation is “greedy.”

It becomes important for you to express your concern respectfully, keep your feedback as objective as possible, and you will be surprised how often people will understand your feelings and give in positively for you.

And if you’re worried about seeming greedy or getting denied, think about what you bring to the table. Also, think about why someone might want to say yes to you, not just why they would want to say no.

3. Always Aim High

You should always looking for the higher plane and anchor your thoughts accordingly – “ask” as aggressively as you possibly can, while being able to back it up with black and white.

And yes, one big mistake many people make is to assume that when someone says “no,” the matter is closed for discussion. This is true that, often the timing just was not right the first time so a second ask might do the trick for you on the positive note.

4. Always Anticipate counter-arguments

You need to look for counter arguments while you negotiate. This is one of the basics of the art of negotiation. You also need to prepare yourself to present interesting facts to pre-empt counterarguments: Once you ask and give a rationale, surface the objections you think you will hear. This will always help you to negotiate in a better manner and create wining situations for yourself.

Things You Need to Know Before Purchasing Property

Critical Tips for Purchasing Property

It is true that everybody wants to own his or her own property but it is also equally true that, one should be very careful while deciding on the property. We are highlighting some critical factors for purchasing a property. It is always considered a tough task to go for the property purchase; this can surely be made easy and simple if you follow these tips.

These are some of the most important tips that will always assist you before purchasing your dream property.

Location Always Matters

It is always about the right neighborhood and the right location. It is important to note that living in the right neighborhood makes life a lot comfortable and hence experts say that you need to give a prior thought before deciding upon the location to purchase your property.

Also, you must check out whether the property is easily accessible, proper road, metro etc, facilities such as hospitals, schools, market, shopping outlets, eateries, and entertainment corners exist or not.

Basic Amenities

While buying your own property, you must check on basic facilities of water, power and sewage before finalizing your dream home. Shortage of any of any of these throughout the year or in particular seasons should be noted down so that you are well aware of the ground realities of your property.

Quality of Construction

This is very important. Quality of construction being used to build your property is something that you will have to live with, for the rest of your life so you need to examine it beforehand. You always need to take into account the construction quality of the house you want to purchase as this will help you understand the kind of maintenance it will be needing in the coming years to come.

Reputation of Builder

This also is an important aspect for buying a property and should not be overlooked. A little probe into the history of the builder will give you valuable information on his track record and the kind of projects that the builder has completed.

Resale Value of Property

You must evaluate the resale worth of the property you are going to purchase. You can also inquire about the supposed rent the property can deliver to you.

Stamp Duty

Buy a property for more than rupees one crore and you’re likely to have to pay big percentage of its price to the taxman. You must find out the exact stamp duty amount beforehand, so that you are better prepared.

Loan Facility

The most important thing after you make-up your mind to own a house is arranging the money and usually you will be required to facilitate a loan from a bank. Various loan schemes are available in the market from different banks. You should always compare the offering and look for the hidden charges etc before finalizing on to such long term investment plans.