Buyer matters: types of property buyers and what every seller should know about them?

How to identify the right buyer and the right negotiation strategy

Price. This is the most important topic that interests all property sellers. However, getting a good deal is not just a function of market conditions - a key element that often gets left behind is who we are selling to.

Different types of buyers have their own pace of decision making, priorities and requirements when choosing, risk factors, and different negotiation methods.

If we know the approaches to the different buyers, it provides us with better positions for negotiating the terms of the deal, and often can speed up the realization of the property - say the brokers of BULGARIAN PROPERTIES and point out that it is in these specifics is the hidden role of a good intermediary.




Here's who the main types of property buyers are and what's the most important thing to know about them when selling:

Own-use buyer

These are people looking for their new home - often families, couples or individual buyers. They want comfort, functionality, good property condition. They are interested in the specifics of the neighborhood and area, and to win them over, it's important to prepare with practical information and advice in this regard, with visual and emotional "triggers."

These types of buyers usually make decisions based on emotion. They may negotiate longer, ask a lot of questions and open communication and transparency is important with them. Often they close a deal if they "feel" the property is theirs - then they are even willing to pay more. Conversely, we may see a sudden withdrawal when uncertain or just feeling negative. They are often more sensitive to defects and unresolved legal cases.

Buyer with mortgage

They may be looking for a property for personal use or for investment purposes. What is specific is that they plan to use bank financing for this purpose. This usually means a slower process - the bank needs to give approval, to consider the deal. It is important to get all the documentation about the property in advance so as not to delay the process, also to acquaint the buyer with the transaction costs.

The priority for this type of buyers is the proper documentation - the presence of Act 16 (permission for use), mortgage compatibility, tax assessment, the absence of encumbrances, etc. They are strict and careful when making a decision and often consult a credit consultant.

Investor for the purpose of rental

When the purchase is for rental purposes, the focus is on the yield. The buyer is mainly interested in the location and its attractiveness, rental prices, maintenance costs. Such buyers are often looking for a quick deal, have cash available for the purchase, but are also willing to negotiate aggressively and coolly to get the best price.

They often have a clear upper limit on the price they would pay and are looking at several properties at the same time, i.e. we need to be prepared that we are in competition with other owners on the market. An advantage for this type of buyer is the offer of a finished property that needs no renovations or furnishings. It is good to prepare with clear numbers - average rent statistics, projected yields and costs.

Buyers for repair and resale ("flippers")

This type of buyer sees potential where others see a need for repairs and hassles with handymen. Since their goal is short-term profit, they look for undervalued properties and the lowest possible price. If we are looking for a quick deal on a property that is far from perfect condition, this may be our niche.

At the same time, we have to keep in mind that such buyers try to bring the price down significantly after the first viewing or after long discussions they give up at the last minute. Prepare yourself with a good argumentation about the potential and value of the property.

Relatives or neighbours

It may sound convenient to sell to an acquaintance, friend or relative - they know the property and the area and need no persuading. But such a deal also carries risks. The lack of professional distance often hinders objectivity on both sides. And it often burdens the transaction with expectations and claims in the aftermath. Such buyers usually expect a "friendly" price and hold an account for any unexpected situation that occurs with the property in the future.

If this is our selling option, it is better to leave the negotiations in the hands of professionals - trusted brokers who can control and manage the whole process for us and bring neutrality and objectivity.




Funds and companies buying property

These are professional players in the market who are looking for package deals, undervalued assets or properties with a specific purpose, buy "wholesale". They make quick decisions but often offer lower prices. They require clear documentation and the possibility of legal due diligence. It is important for such buyers to prove the long-term value and strategic advantages of the property.

The role of the professional broker: to select the right buyer

Finding a buyer is one thing. Finding the right buyer is quite another. An experienced broker knows how to profile potential clients on first contact - to understand their motivations for buying, their risks and their priorities. This is an invaluable skill in the negotiation process because it allows you to tailor communication, avoid mistakes and save time and nerves.

In the current market, where demand is outstripping supply, a good broker is tasked with not just presenting the property, but strategically guiding the process, being able to sift out which buyer is most likely to get a deal, who will offer the best terms, who is realistic and who is wasting the seller's time.

A good first step for us as sellers is to have a good indication of the prices right now. Instead of wandering between real and speculative listings to get a feel for the conditions in our city and neighborhood, we can easily check our watch using the BULGARIAN PROPERTIES property calculator. This is a quick and convenient online tool that allows us to get an indicative market valuation of our property in seconds. It is enough to enter basic information about it - location, type, area, condition.




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