Finding a real estate deal is always a challenge but scoring a pre-owned one that fits your requirements and budget can be an all-out battle. As a pre-owned buyer, how do you shortlist properties to choose from? How do you ensure it’s worth the gamble?

We’ve gathered some insights on pre-owned property buying to help you navigate this tricky but exciting pursuit.

Step 1: List down your non-negotiable

Before running through listings and driving around the neighborhood to scout for properties, you must sit down and make a list of your non-negotiable. This will help you narrow down your options without feeling overwhelmed. Non-negotiable can vary from physical to sentimental attributes or from location to availability of transport.

Step 2: Check out the selling prices around town

The easiest way to counter-check selling prices is to compare them with other similar pre-owned listings in the same location. You can also evaluate the price by the prevalent market value of land in the area. To be more accurate, it is best to establish the values of land and building separately and then add them up.

Step 3: Evaluate the condition of the building

Every pre-owned property has evident marks of wear and tear. It would be advisable to ask the assistance of an architect or builder to help you inspect the foundation, roofing, and other essential structural elements of the house. They are the best people to advise you if the place is still liveable or not. They can also help you come up with a rough estimate of costs if the building needs some repair or major renovation. This cost can also be used to negotiate your price further from the seller.

Step 4: See potential features

Even if it’s an old property or building, you will know its potential by observing how intellectually it has been designed. You can ask and explore the building’s features in energy efficiency, weather-proofing, or security. Be on the lookout for intricate designs or high-value materials used by the owner that is a must to retain.

Step 5: Walk the .neighborhood

The dynamics of a neighborhood speak a lot about the lifestyle and movement in a place. Spend time walking around the area and see for yourself if it’s the kind of neighborhood for you. If you are uprooting your family to transfer to the new location, make sure the neighborhood will be favorable for them.

Step 6: Place your best offer

You wouldn’t know if it’s a deal unless you place that offer. If the initial inspection and evaluation revealed some issues and flaws in the property, then it is just right to do a counter-offer from the seller’s price. Give the sellers concrete reasons for your offer by respectfully citing the costs and time of works and repairs needed to be done.

OnePropertee lists both new and resale properties. With its network of brokers and salespersons, it can help you pick an ideal property to start your journey. For more listings, check out onepropertee.com.

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