If I Could Prevent You Throwing Away £1000’s Of Your Hard-Earned Cash
Through Overpaying For Your Next Home, Would You Take 3 Minutes To
Read This Letter?
From Michael D'Arcy, Director of Indigo 12 and Brighton’s Premier Price Negotiator
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Kindly note that this letter is intended for people acquiring residential property over £300,000 in Brighton
and Hove. This letter will help you learn how to avoid SEVEN horrendously expensive mistakes Brighton
homebuyers are making this year….
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If you are thinking of buying property in one of Brighton's best areas then you have one goal: to acquire
the finest property offered to you at the best terms you can get.
To do this takes dedication, perseverance and effort. It’s a huge commitment and not every property buyer
is up to it.
That’s because the Brighton property market is rigged against buyers. This holds true whether you are
Brighton born and bred or whether you are based in London or overseas.
As a result, some buyers lose hundreds of thousands of pounds, making a few fundamental mistakes.
However, several of these blunders are incredibly simple to stay clear of.
This letter will show you exactly how so you can be forewarned of the hidden pitfalls that await
unsuspecting property buyers.
When you understand how the Brighton property market works, you can make use of the system - to your
benefit.
Who am I and why should you follow my suggestions?
My name is Michael D'Arcy and I will show you the strategies I use to get "information" that means Indigo12
acquire the very best properties at the best prices.
These are strategies which you can use to buy troubled residential properties or outstanding residential
property. You will also find out just how to could avoid wasting vast sums of cash unnecessarily.
BRIGHTON RESIDENTIAL PROPERTY MARKET IS RIGGED AGAINST PURCHASERS
This Cumberland Road property proves how unsuspecting buyers would waste £70,000!
Although it is incredibly apparent, extremely few buyers recognize that they are up against it when they buy
property. This is because the status quo-- the method acquiring and marketing residential property has
been managed the same way for centuries.
STOP Press…Business owner saves £25,000 on £400,000 apartment purchase thanks to Indigo12…
Buyers presumed that, with the advent of the internet and websites such as Rightmove and Zoopla, the
way of buying homes would change. However, this has really led to most customers becoming even more
complacent and even much less detailed in their search.
Reliable research has discovered that the average purchaser only invests 96 mins viewing homes prior to
acquisition; this is 43 mins less than individuals generally spend picking where to take their vacation
or which Smartphone to purchase.
If you adhere to the very same way of doing things, the probability of you finding the very best property
readily available is remarkably low. Actually, relying upon the net could be deadly, as you will learn later on.
When acquiring residential property in Brighton the 2 % guideline certainly rules: 98 % of purchasers do the
same things and so purchase poor or ordinary properties. Being part of the herd simply isn't a wise choice.
Fortunately for you, you can be one of the 2 % that turns this situation to their benefit.
Why are buyers at a drawback?
The main factor is straightforward: estate agents...
The majority of residential property in Brighton is sold through estate agents. This is not a revelation. The
issue is that most customers fail to remember the real role of these brokers.
It is essential that you keep in mind the following:
Estate agents are employed by house sellers. They are legitimately obliged to sell
their clients' homes for the highest price feasible, on the most beneficial terms
possible. They simply have a "thin lawful task" to customers, (buyers).
You are not the top priority for agents when you are buying. Each agent can have more than one thousand
customers signed up with him/her. As friendly as the agents may be, they are not worried who acquires the
residential property as long as a superior price is obtained for their client. Their focus is not to locate you
your ideal home, but to market their clients' homes to you.
Why then would you entrust the very same estate agent to submit your offer to his own client (the seller)
and hope it's a fair & reasonable process?
An estate agent's role is to encourage multiple offers on the same property. Where does that leave you in
this process and what are your chances of securing the home without overpaying?
>>>Think about it. It’s obvious a buyer needs his own
negotiating team.
A team that only gets paid when it negotiates a discount on the
asking price. A team that has negotiated over 1000 deals.
All top sports people, movie stars and writers, have their own
negotiating team when it comes to protecting their interests.
They do this for a reason.
It’s because it works.
Don't allow the estate agent to call all the shots when it comes
to your biggest asset!
Each estate agent can only reveal to you a tiny percent of the residential properties available.
The agents only show you the properties on which they have actually been instructed.
As a result you have to be registered with every appropriate agent to guarantee that you do not lose out on
the best possibilities (though it is true that some residential properties are shared among the agents, these
tend to be the residential properties that they are having problem selling).
This is why obtaining a house is seldom the delightful, exciting encounter that it ought to be. If you follow
the path that the typical customer takes, you will certainly find it an unbelievably time consuming and
annoying fight.
When you are busy things are even worse.
Of course, if you are based outside Brighton or are merely exceptionally busy, the issues are intensified; it
is harder to discover all the appropriate agents and to remain in contact through routine communication. In
addition, it will also be really tough to view all the available homes.
This puts you at a disadvantage. Estate agents are more likely to speak to various other purchasers
concerning the very best homes prior to calling you (it is a straightforward reality that they will be most likely
to gain their compensation by concentrating on clients who are simple to get in touch with and can see
properties rapidly).
If you are similar to our clients, you are highly motivated and either concentrating on company business or
various other passions. However, you need to discover the time to carry out the essential study to locate
the finest residential property matching your criteria and make sure that you are not paying an extreme
price. Many purchasers fall short in this area. Consequently they fail to discover the best homes and wind
up making an average acquisition at a high cost.
Do you really want to spend £100,000 more than you have to on your next property?
Overpaying for a property in the hope of getting it back when you sell is a false investment. This is
because few people take into account the true cost of borrowing money.
Here’s an example of how overpaying by £30,000 can cost you £100,000 in the long run.
Suppose you spend £600,000 on a property instead of negotiating it down to £570,000. You overpay by an
initial £30,000.
As well as the initial £30,000 you will end up paying
£26,250 in interest payments alone on this £30,000
based on a 25 year interest only mortgage @ 3.5%.
Your total next increase in expenditure will be £56,250
You would need gross PAYE earnings
of circa £112,000 to pay for this £56,450.
That's why it is so important to buy at the right price.
It’s why this opportunity to work with Indigo12 is one that you must look at seriously.
We work on a success-fee only model. If we don't save you money, we work for FREE.
There’s a little bit more about how we work later on in this letter. But just in case you fancy going it alone
we’ve put together some tips for you.
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The 7 Costly Mistakes Brighton Property Purchasers Make & How to Stay clear of Them
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>>> LACK OF PREPARATION
The process for a house purchase highly complicated. Nevertheless, most buyers are still under-prepared
and prone to making costly blunders.
You must be in a position to act quickly when you locate your best choice/s. If you are not, then it is most
likely that you will endure the aggravation of losing it to another buyer.
Have your funds in position. You need to ensure your seller is aware of your plans to ensure that he/she
can move quickly when asked. Generally, you should put down 5-10 % of the purchase price as a deposit
on the exchange of agreements. The balance is paid upon "completion". It is feasible, although rare, to
"exchange" within hours of seeing a property.
You have to have this organised prior to making an offer otherwise there will be delays. Any unneeded
hold-ups could lose your optimal residence. Important-- the agreement is not legitimately binding until
agreements have been exchanged.
It is necessary that you utilize a conveyancing solicitor which specialises in Brighton home transactions.
They should be available when you want them to be. For that reason, you need to have advised a lawyer to
act for you before you even start searching for a home.
There is a raft of money laundering legislation which requires solicitors to check identification and the
source of funds prior to a purchase. Have every little thing in position to ensure that you can prevent
unneeded hold-ups.
Instruct a surveyor. Most of the times a survey will need to be completed. You should have 2 or three
surveyors prepped to substitute for you at short notice
Keep your eyes open for more than one property at a time. Undoubtedly this may not always be feasible,
however if you have people whose viewpoint you trust, ask them to check out homes for you. If you are well
prepared this will certainly be the fundamental foundation for your success. If you are not, I can guarantee
you will certainly have to endure one of the most stressful periods of your life.
The best acquisitions are made when you have had the ability to move swiftly and pre-empt the competitors.
Hold-ups created by your lack of prep work will indicate to the seller that you are not a serious buyer and
they will certainly lose confidence in your ability to go through with the purchase. This will enable other
potential buyers to obtain the home. You will have lost a great deal of time and money. Remember, there is
no lawfully binding contract up until you have actually exchanged contracts. Agreeing the offer is not
completion of the negotiation.
>>> ESTATE AGENTS AND THE INTERNET ARE NOT YOUR FRIENDS
You already know this, but I hope you don’t mind me repeating it: most homes are sold through estate
agents, but buyers forget this is an immediate disadvantage:
Estate agents have one goal in mind. They must sell their clients‘ properties for the highest price
they possibly can on the best terms possible for the seller.
The estate agent is not your friend. They’ll have hundreds of potential buyers on their lists. They really don’t
care who they sell to as long as they have the money and are serious buyers. They aren’t there to find you
the perfect home. They are there to find the best buyer.
So what can you do to counteract the estate agent?
Do you totally ignore estate agents and try to buy off market properties only?
Well that’s not going to work. Just because something is off market doesn’t mean you can avoid estate
agents. Very often estate agents hold properties off market themselves if the owner has requested
minimum hassle. Secondly by only going for properties that are off market this seriously affects your choice.
And that’s bad for negotiating.
So you will have to deal with agents. And they won’t be falling over themselves to help you either. It’s up to
you to make sure you are at the top of the list when it comes to being the preferred serious buyer. When
you do this you get to hear about properties first and your negotiations are taken seriously.
Every estate agent needs to have your details. Remember estate agents can only show you the details of
properties that they have been instructed to sell. Register with every estate agent in your target area. There
are more than 80 estate agents in Brighton. There may be some that do not have properties to sell in your
price range but you can easily appreciate that if you only register with 5 agents you are reducing the
chances of finding the ideal property at the right price.
Do not rely just on the Internet - it’s a big mistake.
Did you know that although three-quarters of people start their property search online, (because it’s
easy to get on Zoopla and Rightmove AND OnTheMarket.com, the majority of properties sell before
they even get listed on the internet!
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Some agents, for example, Savills, have stated that almost 50% of their listed properties are off market.
The higher the price, the more likely this is the case.
It’s your job to stay in touch with agents, at least once a week, to be the first to see the best properties.
(Indigo 12 can help with this).
You must give the agents the right guidelines about what you want. Don’t be too specific though because
you might miss out on something that isn’t quite right but can be easily adapted to suit. Likewise, don’t be
too broad otherwise you will end up wasting your time.
Speed is of the essence for estate agents. They sell a house quickly and they get paid quickly. So let them
know that you are a serious buyer by being organised.
Make sure you attend viewings of suitable properties or have your representative do it if you do not have
the time. It’s important for the estate agent that they see you are serious and always offer feedback on any
property the following day...this helps agents with their clients, (the seller) and will therefore help you
establish a good relationship with the agent.
It may be easy to rely on websites and firing off a one-off email but that’s what everyone is doing. To get
better results you need to stand out. When you do you’ll be in pole position on first refusal of the best
properties.
>>> FINDING OFF MARKET PROPERTIES.
As I have mentioned, many off-market properties never get seen by prospective buyers.
Having a strong network of the right level of contacts in Brighton means being able to negotiate with owners
directly and discreetly.
Things you may wish to contemplate yourself are;
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Posting letters to the owner of houses you particularly like and would be interested in buying.
Contact the developers of new builds or renovated properties because they may wish to sell before
marketing the property to help Cashflow.
Let your friends and family know you are looking...unless you want to be completely discreet. You’d
be surprised how often someone you know has heard about a great property coming up for sale
Making first contact can mean that you end up paying a premium. But it depends on what you want.
Sometimes it may be worth paying for your dream home. But if you are a skilled negotiator you should still
be able to get a good deal.
>>> THE BIG MISTAKE YOU’LL MAKE.
You’ll want to ask me what the biggest discount is that can be achieved on
a property. That’s pretty easy to tell you. It’s the one where the house is
massively overpriced in the first place.
There is a property in Brighton that was priced at £1.5M. And now it’s on sale for £1.1M, (a discount of
£400,000).
But the truth is, it was a hugely overpriced house in the first instance.
The critical factor is having the right information on board to be able to make accurate valuations of a
property to enable the acquisition at the right price. This will prevent you from overpaying. It is also
important to realise that when you come to sell the property, when you have acquired it at a good price that
is when you can expect to realise a good profit.
It is often tempting to visit websites to look at the sold prices for properties in your chosen area. However
these websites can be misleading and don’t tell you about the interior, any problems, the neighbours etc.
There is a lot more to a house than just the sold price. Unfortunately, the property market is opaque. The
information available is often incomplete and out of date.
The truth is that you need to have visited several target homes to get a good feel for the right price. Estate
agents may be able to release information to you about other properties they sold in the area, (providing
they see you as a serious buyer).
Remember though that agents are out to sell a property to you so be aware of the fact the truth can be
stretched. And just because someone else paid a certain price does not mean you have to.
Double checking all the facts never did anyone any harm.
The main facts that will help negotiating are quite straightforward, but almost invariably they are neglected
by the ordinary buyer. Some of these questions are;
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Length of time the property has been on the market
Number of viewings
Number of offers
Why property has had/not had, offers
How price was arrived at
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What price is acceptable
Reason for selling e.g. probate or divorce
Have you found a place to buy
The better the relationship with the agent or property owner and more skilled your questioning, the more
likely an absolutely crucial piece of information will be revealed.
>>>BE A GREAT NEGOTIATOR
Negotiation is a skill which can be acquired and you would be advised to read as many good books about it
as possible. It will help you with all walks of life. There is, however, something to be said for experience.
Quite simply the more you negotiate, the better you become. The old adage, practice makes perfect, is
true.
The key to negotiation is information and what it means. You need to have the best information and
understand how that impacts on the negotiation. Every question you ask could reveal the key fact you can
use.
Never enter a negotiation without knowing your ceiling in terms of price. And never, ever, make this ceiling
price your opening offer. If it is accepted, it is almost certain you have overpaid. And the seller may try to
gazunder...which is raising the price at the last moment.
You cannot lose a negotiation if you never exceed your ceiling price. You may not get the property but that
is not a loss, particularly if you have others that are equal in choice.
Always make sure you ask for things to be included in the sale, even if you don’t necessarily want them.
This can be a good tactic for negotiation further down the line when you can give these items up.
Always increase your offer in small amounts that decrease as you get nearer your ceiling. So if your ceiling
is £500,000 and you first offer £450,000 your next offer may be £470,000 then £480,000 then £482,000.
Big increases in offers mean that the seller thinks you’ve got plenty more money than you are letting on.
What non-monetary things can you offer? E.g. can you move quickly and is this of value to the seller?
Always be prepared to walk away. It’s difficult in a seller’s market but the owner won’t want to lose
a serious buyer and the estate agent wants their commission as soon as possible. Stick to your
limit.
If your seller agrees to the offer but at a later date starts changing the terms, only agree to this if you get
something in exchange. You may not get what you ask for but it could prevent the seller changing the terms
further still.
Always put your offer in writing making sure you outline the key terms and that any offer is made "subject to
a survey and exchange of contracts. Ideally you should negotiate a lock-out clause giving you a period of
exclusivity. Your conveyancing solicitor can help you with this.
This is only an outline of what takes place during the negotiation process.
And Indigo12 will handle this on your behalf if this is all too much for
you or you don’t have time to do it.
>>> UNTIL YOU HAVE EXCHANGE CONTRACTS IT’S NOT YOUR
PROPERTY
Getting an agreement on the price is just the first part of the house buying
process. Almost one-quarter of transactions fail between agreeing the offer price and exchange of contracts.
During this period there are still negotiations which take place.
Don’t put down a non-refundable deposit. The whole legal aspect of buying a home can be terribly
complicated and there are often surprises that change a buyer’s mind or offer.
It’s your responsibility to make sure your team is co-ordinated so that you can proceed effectively. That
means finance, legal, surveying and negotiating team. You must make sure your team is the winning team
and they are on the ball. Your winning team will most certainly be able to smooth over any problems which
occur.
It’s very possible to waste thousands of pounds by overpaying for property, by making a poor decision, and
losing money at resale time.
The good news is that it’s possible to avoid these errors.
The bad news is that it’s time consuming, boring and frankly quite stressful.
Unless you get someone else to do it for you.
You can try and go it alone and make the same mistakes as other people make on an all-too-regular basis
or you can have a professional negotiator help you. It’s entirely up to you whether you take this opportunity.
You may be someone who is of the opinion that time is money. Someone that does not want to spend all
day and night thinking about negotiation and putting it into practice. You may be someone that wants the
best price for a property with least stress possible – at this stage, I hope you are.
By engaging Indigo12 you won’t be pressurised by agents on price. You can be assured that what you are
about to offer is the right opening offer. You will know the property is worth what you are prepared to pay.
You will be represented by a professional negotiator who will develop a strategy to get the property you
want at the right price for you.
You will certainly save money you would have spent going it alone.
Please call on 01273 386216 or email [email protected] for a brief phone chat.
Michael D'Arcy – Director Indigo12, Brighton’s Premier Price Negotiator
P.S. You pay nothing unless we negotiate a lower price than the asking price. You pay nothing unless the
house is sold to you. You only pay once the contracts are exchanged on the property. Please refer to our
attached commission only structure below.
P.P.S. We never represent more than one buyer for the same property for obvious reasons.
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More about Indigo12
Indigo12 are highly experienced negotiators, having spent the last 25 years handling property and
commercial rights negotiations worldwide.
This extensive knowledge of the entire negotiation process, coupled with a very high level of integrity and
professionalism ensures that our clients’ best interests are fully served.
We are also Brighton residents with a huge knowledge of purchasing and negotiating prime property in
Brighton.
Having dealt with dozens of agents, viewed the finest properties and built up a network of contacts Indigo12
are perfectly positioned to prevent you from overpaying.
Unlike estate agents, we don't represent sellers in any way, shape or form. As such, we're 100 %
committed to getting you the result you're searching for. In fact, we are so confident in our ability to do the
job of negotiation for you that we’ll happily pay for dinner for two at a restaurant of your choice in Brighton if
we don’t reduce the asking price on your behalf.
Our no success – no fee structure is what makes this an opportunity a win-win for you.
You only pay us a percentage of any saving we make you. And only if your purchase is completed.
>>>HOW WE WORK.
1.
We charge a fully refundable registration fee of £400.00 (if we don't secure a price reduction
within 21 working days, we will refund the fee). No quibbles.
2.
We meet with you to discuss the property you have identified to purchase.
3.
We shall discuss your current status and will then advise on the best way forward.
4.
We then carry out our own market appraisal on the value of the property.
5.
We meet with the estate agent/vendor and discuss the potential purchase.
6.
We then discuss with you an offer strategy and present the offer/s to the estate
agent/vendor.
7.
Once the offer is accepted our fee will be equal to 10% of the negotiated saving.
For example.
House marketed by agents at £600,000/Indigo 12 negotiate the price down to £570,000/Buyer saves £30,000
Indigo 12 fee = £3,000
IF NO DISCOUNT IS ACHIEVED THEN NO FEES WILL BE PAYABLE.
NO FEE IS PAYABLE UNTIL CONTRACTS HAVE BEEN EXCHANGED
Latest Property News;
And finally, Gazundering, where the seller increases the price at the last moment is rearing its ugly head in
some property transactions. There are a number of ways to deal with this and here are a few tips for you,
(by no means exhaustive).
Remain unemotional if you are faced with this situation and don’t take it personally. This is business and
you should not react in the heat of the moment. Take your time to calm down.
Look at what the seller is proposing. Does the purchase still appeal to you? Does it make sense at the new
price? Or would it be better to withdraw your offer? How many buyers are there lined up? What has the
negotiation led you to believe so far? Is it a bluff? Could you withdraw your offer and come back with an
even lower offer later?
Counter their offer with different terms. Perhaps you could agree if they exchange within 24 hours? Or they
throw in the car? Make sure your legal team are ready to move though if you do make an offer like this.
Remember the negotiation does not finish until those contracts are exchanged. Only then is the purchase
and sale legally binding, (and you can sue for costs if it does not go ahead).
Gazumping highlights why it is important to have a crack team behind you. The faster you can go from
accepted offer to exchange, (providing the Conveyancing process sorts out any defects satisfactorily) then
the less chance there is of gazumping taking place.
I invite you to call me to learn more about this opportunity.
Please call on (01273) 862312 or email [email protected] to for a brief phone chat.
Michael D'Arcy – Director Indigo12, Brighton’s Premier Price Negotiator