3 THINGS YOU NEED TO NEGOTIATE WHEN PURCHASING A PROPERTY | Never accept the first offer!!!
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- čas přidán 23. 07. 2024
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Hello lovely people and welcome back to my channel.
Today we talk about all things negotiating. The number 1 mistake I made was not negotiating enough on the properties that I bought on my journey. This is a simple tool that could save you a lot of money in the long run. I hope this videos sheds some light and please show some love and leave a comment as well!
This channel focuses on all things property - breaking down all the property terms and practices in a relatable and simple way. Anyone can be a property investor, join me on this journey as we learn, engage and unlearn the property investment world.
Please note that none of the information shared in this video or my Channel constitutes as financial advice - if you are looking for financial advice please consult with a registered professional!
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SOCIAL MEDIA LINKS:
linktr.ee/PropertyTalkwithYolz
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Hi from South African vloggers 🇿🇦 😀 ❤️ 🌍
....
You make me feel like I already own property even though I don't...🙌🙌
And when you finally do buy property you will be well informed 🙌🏾
Way to go!!!✨✨🏌🏾🏌🏾
Wow! I learn something new everyday on this channel 🙌
What did you learn this time? 😉
This is VALUABLE information! great content 💜
Thanks Nozi 💜
That initiation and bond cancellation fee need their own respective detailed episode yhooo
Agreed!! I also recommend the book “making money out of property in South Africa” by Jason Lee it might answer some of the questions you have 🤞🏽
My favorite channel. Very educational and interesting ❤️
Thanks Zanele 💜
Wow!!! Nice video. Keep up the good work! 👍
Okay admin 🤣
Thanks Yolz, these savings that once makes in the beginning make a huge difference in the long run. Well explained, enkosi 😊
Indeed! Thanks for watching man 😁
Very interesting, thank you ! 👏🏽
Another great video 🙂
Once again: one of my favourite channels here on CZcams so real and relatable. Thank you for sharing your mistakes with us.
Great video, very informative❤
Ready to indulge in new info... Thank you Hun... As I watch☺️
Take it all in babes!
Hi Yolz.
Could you please shed some light on how approaching several banks affects your credit score?
Does taking your Letter of Grant to other financial institutes affect your credit score? Is there a reason for this?
Do you have any tips on how to get the bank to completely waive the initiation fee?
I appreciate your content (on CZcams and Instagram) so much. Thank you, for sharing your mistakes publicly and sharing your knowledge - it is so valuable.
I enjoy the ease with which you speak. Property investment is daunting and can be very lonely as a single, young, black woman who doesn't personally know any other property investors. Seeing a young black woman (you) navigate this field is so encouraging, and empowering.
Hi Zintle
Its really so encouraging when someone shows appreciation for the content I create. Thank you so much for the engagement.
Approaching several financial institutions for credit can have a negative impact on your credit score but its such a marginal affect when enquiring about home loans compared to enquiring about personal loans for example. This is because a home loan is a secured type of credit ( the bank has the house as a collateral should anything happen) where as a personal loan is more high risk for them. I would 100% recommend for anyone to shop around for the cheapest interest rate - you wont even notice the difference on your credit score so thats not something you should worry about.
when negotiating with the bank its always better when you are negotiating from a position of power - an example, having a deposit means you will borrow less money from the bank and because they want your business you could use this to negotiate other factors such as the initiation fee. Having a deposit shows the bank that you are serious buyer and they will want to keep your business at all costs. afcourse you might not be able to completely waiver the initiation fee but you can get it reduced which will save you money.
This is so informative as usual! Great video again Yolanda!
Enkosi mntase
So educational and great info!!
I’m glad. Thanks for watching!
Nice Video. Keep it up!
Thanks for watching 💜
This is very educational, I love hoe this channel is picking all the mistakes people make and end up regretting them. Thank you Yolz, I appreciate this channel 💜❤️💙
Hope you learnt something 💜
Thank you for sharing good ideas
Yes you right everything is negotiable
It is indeed! Thank you so much for watching 💜
Very educational, I believe we lack the knowledge and information about the negotiation
The excitement of being approved for a home loan is always blinding us from the real value of the property and negotiating the lower price.
Haha yes that’s exactly what happened to me. It’s such a shame but now we know better 😅
I love how i grow from each video you post, the information that feeds me with the correct information because you have had those expiriences yourself. In Xhosa we say "Inyathi libuzwa kwa a phambili"
Enkosi Manala for such informative videos 💯👌
Thanks mntase for watching 💜 glad you learning
Yolz my girl 🔥🔥🔥I love your content
Nonzu! Always watching and commenting I appreciate you girl 💜
Thank you so much for this video
Thanks for watching 👍🏽
Great video. Nice content 👌 I actually learned something
Hi Yols I have been binge watching since video one and Ive learnt so much. Where would I get a distressed seller?
Thanks Yolanda for the video, it was very informative. Just a question, can we negotiate the purchase price on new development property or does negotiating only apply to pre-owned property?
It doesn’t matter whether it’s a new development or pre-owned you should still negotiate. In a new development the developer would have spent a lot money building the properties so they also want to get rid of them as soon as possible!! Negotiate everything!!!
Thanks Yolanda. So what happens if you want to buy new developments property where they offer 10% for first buyers. Can you still negotiate the asking price so they could further lower it down?
yes. always see if you are able to get a lower price. you lose nothing from asking and it also depends on the demand of the properties in that development.
Hi Yolanda, thanks a lot for the video. I just want to know, when it comes to negotiating interest rates. Should I use a bond originator to approach the banks or do you think this is something I should rather do on my own? Which option gets you a better interest rate?
Hi Zolisa. The amazing thing about a bond originator is that it’s an absolute free service. So if you can get someone else to do all the negotiating for you - why not. You can also be involved in the process but they would lead the communication the banks!!
@@PropertyTalkWithYolz Thanks Yolanda for the prompt response. I really appreciate it. :)
What I’ll ALWAYS REMEMBER “everything is negotiable” | “never accept the first offer” | 🔥
That’s it sis. It’s that simple
Hi Yolz thank you for the informative vid.
So for off plan properties(new development)can you still negotiate and what points can one use to negotiate such a deal if it is possible?
Hey Molefe thanks for watching 😉 it’s much harder to negotiate in a new development esp if the demand is high, but also remember developers invest a lot of money building new properties and they want that money back as soon as possible. ALWAYS negotiate and shop around in the area to find the best possible deal for you. Look at price of similar properties in the area, compare and use that as the basis of your negotiation. Most new developments are always over hyped and over priced. Hope that helps :)