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Real Estate Property

Emotional Attachment to the Property

July 24 2015 , Written by Maureen Martin Published on #real estate property, #realtor, #location, #real estate, #market

Many sellers have an emotional attachment to their homes, and this is usually the clincher of the conversation: they will get to keep their home, enjoy its upgrade, plus enjoy additional income from renting or selling the other apartment.

High-quality apartments

Furthermore, you will explain that the developer of the house is also interested in owning some of the apartments. Therefore, the developer will make sure that the materials used in the renovation of the house are of high quality, as opposed to the materials used when the developer is paid in cash, or when profit is their only concern.

The developer will make sure his construction workers provide high quality services, as opposed to materials and services used when the developer is paid in cash. Since the owner of the developing company might also live in one of these apartments, he will put a significant amount of effort into ensuring a higher quality of work than he usually provides.

Please, speak slowly and emphasize the fact this is a win-win situation for the seller. This way, the seller gets to have his cake and eat it, too, which is a rarity in modern society.

Emotional Attachment to the Property

The bottom line: the seller gets the money, except it won't come in the form of currency bills.

In case the seller is interested in selling the house because he/she is moving abroad, then you can offer to monitor the renovation of the house, work on the legal and ownership issues with a real estate attorney, and put the apartments on the market as soon as they are finished.

You should keep in mind that it is faster and easier to sell a big property piece by piece, so keep mentioning this fact to the owner. Since he or she is planning to move abroad, maybe he/she does not need to sell both apartments. Maybe he/she will be enticed by the idea of selling only one apartment and the other apartment could be rented out, so this will provide him/her with additional income.

The deal you are offering to the sellers will also save them some money by reducing their monthly costs of owning a property. Owning an older, big house entails having greater heating, electricity, water and other utility costs. If they own two apartments, their monthly costs will be lower. This is logical since new windows and better insulation materials mean less heating consumption.

Also, less square meters/feet means less heating, electricity and water consumption.

Emphasize the fact that they will have lower monthly costs, while at the same time, their property will have a greater value, and they can earn additional income by renting one of their apartments. They cannot lose. They can only profit from your idea.

This should sound enticing, because ultimately, the market price of the two separate apartments has the potential to surpass the price that the owner is currently asking.

Always keep in mind and emphasize the notion that his/her house has old features, that it is in desperate need of repairs, and that the chances that the house will be sold in the foreseeable future are really grim.

Your arguments should sound very interesting, compelling and you should emphasize all the benefits the seller will receive. Always mention that he will receive new, fully renovated apartments whose value is the same or greater than what he is asking for the property.

What you are offering is foolproof success, and an exceptionally good deal.

And we all know that it is impossible to say no to such a good idea.

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