Timing when it's time for a deal - Part Four

Prices are coming down, this is great, especially for people hoping to buy a home with credit. Property prices are closely linked to lending, and always in opposite directions - high loan prices low property prices and vice versa. You can't have no funds available and want a bargain, you have to react instantly there or it's gone.

Keep in mind that in a more complicated market, negotiating skills are key, you will be sold by true sales professionals who will be hired by the sellers to pitch and nasty properties and if you can't negotiate or you don't trust someone to look out for your interests, the dream deal could be a big nightmare in the future.

Here's an example of a good deal right now:

Average prices in the previous crisis dropped 20% in about 2 years and stayed constant for another 2 or so, so if the average price is now 850 euros and you find a deal - 650 - 670 euros, that's a good deal, you're already at your expected bottom and the next 4 years you're 20% ahead just on the rental income you'll get.

Do not buy a property just because it is cheap, it does not mean it is profitable, especially for investment, find out why it is cheap, what income it will bring, will there be future interest.

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