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The negotiation points for a property are primarily based on the history of recent sales. Generally, this involves reviewing the last six transactions in the area, as well as comparable properties available in the same neighborhood.
For a Condo, the analysis begins by examining sales completed in the same building over the past six months. Then, the scope is broadened to observe neighborhood trends and gain a clear understanding of the local market.
For a house, the stakes are even higher, particularly because the property’s value can directly impact the insurance premium. This aspect must therefore be taken into account during negotiations.
Another determining factor concerns the rules voted on within the condominium association : restrictions, specific conditions, or limitations on use. For example, if rentals are prohibited during the first year, we will calculate the potential loss of income. This type of constraint then becomes a negotiating point.
Finally, the property inspection is a crucial lever. An inspector conducts a thorough assessment and identifies any defects. Depending on the findings, we may contact the owner to request a credit, a price reduction, or to have the necessary repairs covered before the closing date.
