A flat at a bargain price

When buying a flat, everyone would like to spend as little as possible. But it is not that simple. There are quite a few bargains on the market, but because of their appeal they disappear quickly. That is why a buyer must be vigilant and look carefully through all available listings. It is also worth arming yourself with patience, as searching for a property at an attractive price is a game only for the persistent.

We start looking for an attractive listing in the traditional way, by checking advertisements on the internet, in the press or those on street lampposts. It is also worth involving family and friends. It is quite likely that someone has heard that a friend of a friend is selling their own flat and is in a great hurry to complete the transaction.

When hunting for bargains, it is also a good idea to go to an estate agency. That is where the most attractive listings end up, and they vanish from the market in no time. So if we want to have up-to-date access to them, it is worth working with an experienced agent and telling them about our plan to find something at a really attractive price.

Who can we buy a flat from at an attractive price?

Bargains of this kind mainly involve people in difficult life situations who want a quick sale. Most often these will be heirs of a property who want to sell it in order to share the proceeds among themselves, people forced to move quickly, people in debt, or those caught up in a dispute with a co-owner.

Such sellers want to complete the transaction as quickly as possible, preferably for cash. They will therefore be more willing to negotiate and to sign the agreement as soon as possible.

Bailiff auctions

Flats priced below their value can also be bought at bailiff auctions. At the first auction the bailiff cannot set the price below 3/4 of the value. If no buyer is found, however, the price drops to 2/3 of the value, which allows you to save a good deal of money.

Poor technical condition

Properties in need of renovation are also much cheaper. So if we do not mind that the premises will need to be completely redone, or even want that because we prefer to fit it out 100% our own way, it is worth looking through the advertisements for flats in poor technical condition.

Primary market

There is also a chance of buying a brand-new flat at a bargain price. This carries some risk, so it is worth considering whether we want to take it. Flats whose completion date is still far off are considerably cheaper. In such a situation we run the risk that the developer may have problems finishing the construction. It is therefore worth checking what their previous developments look like. If we are lucky, however, and armed with patience, in a few years we may have a brand-new flat at a very attractive price.

Better safe than sorry

There are plenty of attractive opportunities to buy property on the market, but the lower the price, the higher our vigilance should be. It is quite possible that behind a reduced price lie some difficulties, so let us demand an explanation of why the price has been reduced. Let us also check the legal status of the premises, so as not to fall victim to some kind of fraud.

And let us not forget that a bargain can come along at the least expected moment, so it is worth being prepared for it. People who want to sell a flat quickly prefer buyers with cash who are able to pay the whole price at once. Let us bear that in mind and prepare accordingly.