In the last 20 days, I’ve been busy in making a deal to purchase an apartment. It was in a good place, and the unit is not common in Jakarta, let alone in the area. The price is not cheap, but the payment term was structured so nicely, which make it difficult to resist. On paper, it promises a return of more than 10% in the first year, not including price appreciation.
Too bad that, this evening, the salesperson called me to say that the deal was cancelled, due to some circumstances. All money that has been paid will be refunded fully. Finally it was just only a lesson of negotiation and deal making, which is paid only by our time. Yeah we did learn something in the last 20 days, and put some theory into practice
Bargain everything. Even stuff that has a list price, like apartments, can be bargained. We spent 4 hours in one evening, and if the deal continues, we would save Rp. 20 million!
Don’t forget payment term and cash flow. Our mistake is we didn’t evaluate for proper cash flow, which cause us some headache.
Be creative for payment term. I just heard of a very uncommon payment term, which I never think before.
Ask something in return. When you raise your price, or agree on anything, ask something in return for your agreement. Each agreement should be given with reason.
Maybe we didn’t make the deal, but beside the deal itself, the process gave so much experience. We made new friend, and more informed about the property market in the area.