How do you find an affordable property?

Claudia P. had similar difficulties to many others in finding a property. First the prices were too high, then there were problems with the bank’s financing. Claudia was on the verge of giving up on her dream of owning her own four walls until she turned to us as a last resort.

Claudia P.’s family was already looking for a property before the interest rate shock. Before 2023, however, it was difficult to find an affordable property. Supply was scarce and demand was high. Then inflation and interest rates rose, demand fell and prices plummeted. Claudia hoped that it would be easier to find a property under the new conditions.

Difficulties with financing

Claudia thought she had found an affordable property. The seller agreed to sell to her without Claudia having a financing commitment from her bank. When she tried to clarify the financing, the bank refused to lend. Claudia was desperate. The seller had already cancelled other interested parties and now had to start all over again, as Claudia could not buy his house.

A step in the right direction: the search assignment

Claudia came across our website and set up a search request to find a solution. She entered the key data that her desired property should fulfil, as well as the exclusion criteria. She also had financing expertise from her bank to determine the maximum price for a property.

Property found before it was on the market

Shortly after Claudia’s search assignment, we were commissioned to sell a property that largely met her criteria. As the property was not yet on the market, other interested parties were not yet able to view it. There were still discrepancies in the purchase price.

Help with the financing

We offered Claudia the property and recommended an independent financing expert who helped her obtain more favourable conditions.

Negotiations with the seller

We explained to the seller how much potential buyers could afford under current interest rates. We pointed out that at his asking price, the property might stay on the market for a long time. We reached an agreement that satisfied both parties.

Both sides brought together

In the end, Claudia was able to realise her dream of owning her own four walls and the seller was satisfied with the sale. Moments like these, when we as estate agents mediate between buyer and seller, are particularly satisfying.

Do you need help finding and buying a property? Get in touch with us! We will be happy to advise you.

Note

The generic masculine is used in this text to improve readability. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.

Photo: © ArturVerkhovetskiy/Depositphotos.com