Today I wanted to write about what we know in the product marketing industry as standard features. This statement of standard features means many things to many people and should not be overlooked or assumed that anything should be or in fact is a standard feature.
Recently I was selling a property for one of my developer clients that had an appliance credit offered. It was a home with a legal suite so 2 of everything.
Now in today’s world you might assume the following; the credit is enough or not enough to cover all of your appliances. Well in this specific case it was the latter and we were asked to cover the costs of the hood fans and installation. The buyers agent assumed that the hood fans were included as they are required for occupancy. I consulted with our builder and their answer was there is a credit which they can purchase the hood fans and we will install.
Now in the end we worked out a deal to cover all the installation costs and they bought their own appliances with the credit plus some of their own cash including the hood fans. The reason I wanted to tell this story was that there was an assumed standard feature (hood fans) here that was actually covered by the appliance credit.
When you are buying anything that goes with “standard features” for houses, condos, commercial complexes, phones, cars etc be sure to read the fine print and ask a lot of questions. Especially in **strata developments** which I’ll touch on next post.
It’s always better to know everything about your product than not know enough and make a mistake or miss out on having something negotiated
and included in the purchase price.
Always remember the majority of your negotiating power is available up until the time you remove subjects (houses etc) or finalize the transaction for all other products or services.
You can still attempt to negotiate after the transaction is firm but your not in as strong of a position as your were before firming up the transaction.
If you are in the market for an investment I would be happy to look after your interests as if they were my own investments. I’ve personally made many real estate investments in our local market and have multiple development sites and cash flowing assets all of which I’ve acquired using predictive analysis.
For any questions about investing reach out via my cell,
Text or call 250-618-6797
Developer Jay