For most of us, purchasing a property is the biggest financial commitment we make, so it’s important we negotiate the best possible price.

A few negotiation tips:

• Be a reliable buyer. Make sure the seller knows you’re serious about buying and that you can be trusted. A great way to make yourself reliable in the eyes of the seller is to get your home loan pre-approved.
• Know your maximum and stick to it.
• Take the emotion out of it. If you find this difficult, it may be worth using a buyer’s agent.
• Research. Understand the local market (property reports are an excellent source), the property and as much as you can about the reasons that the vendor is selling.
• Keep your cards close. Don’t give away too much on what you are prepared to spend, or how much you love the house.