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Frequently Ask Questions about Hot Deals

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• How do I list my property in Hot Deals section of www.SuratRealEstate.com

  Builders, Investors, Brokers if you want to list your property as Hot Deals, then please feel free to contact us. We don't charge anything for listing Hot Deals. We charge 1-2% brokerage from the buyers / sellers depending on case to case for Hot Deals. We will thoroughly verify all the details, specially the prices offered by you and if we find it really hot then only we will display the deal here.
  
  We have a huge database of investors, brokers, individuals in and out of Surat / India. Our Hot Deals reaches huge volume in little time. In such marketing campaigns depending on case to case, we can keep prices, property name and related information open or just give highlight of the offer, like area, property type, discount % and so on.

• What are the reasons people sell properties at discounted price?

  Based on our research we have identified few reasons for the same

  • Bulk Purchase / Group Buying

    Often a group of investors / buyers / brokers team up and bargain builders with some huge discounts. It's more like whole sale price. The builder's gets chance to cut down his inventories in one shot and is happy to offer discounts in return. More info http://www.suratrealestate.com/page.php?id=24

  • Builders Installments

    Builder has to pay their installments further on the same project or new projects they are working on. Thus they can sell off their unsold inventories at up to 20-35% discount from market rate. Builder here still make 2-20% profit depending on case to case. This discount is generally the loss in their profit and very rarely does the builder sell under his costing's.

  • Need of Fast Cash

    Builders / investors when need of fast cash, can give some handsome discounts. Generally a 7-14% discount is very common if you buy in 1 month payment terms compared to 1-2 years terms. But the same can go up to 25-35% discounts too depending upon builders need.

  • Pre Bookings
    • Genuine one

      Builder doesn't always have all the cash in hand to get a project started. Even if they have the cash builders generally try to divert their risk and won't put all their money into their own project.Nor builder can sell to end users until some stage. Thus they invite pre bookers (mainly investors). The profit margin to these genuine pre booker's sales is very less and can vary from 0 to 10%.

    • None Genuine one

      Sometime the Pre-Booking can be just a gimmick, where by actually the builder might be selling at minor discount, which actually isn't a discount because you might be paying all the money in one shot or many other reasons. BE AWARE of SUCH DISCOUNTS.

    • Risk attached

      Generally this might happen before the builder has all the documents in hand. So if due to any other reason the plan doesn't gets passed or changes or delays, you might get stuck. If for any reasons any issues arise the builder will pay back the amount paid, and often pay 7-12% interest too. Always good to discuss this in advance.

  • Investor Sale

    Bigger Investor generally buys the property at a discounted rate compared to listed price. They might have booked the 10-20 best spots in a flat too, as they are the first to enter a project.
    
    Now in most cases the investors cannot sell their property at market price as the builder is also selling at the same rate. Thus they are happy to give a discount of 5-20% depending on their needs to get out of the project. Even after giving such discounts the investors often make reasonable ROI.

  • Frustrated as no buyers

    Sometimes selling a property at the market rate might be night mare. Due to various reasons some properties are not sold even after a discount. If the owner is frustrated / desperate and is in need of instant cash they might sell of the property at some good discounts just to see that the deals happen.

  • Awkward location

    Builders and End user often find difficult to sell awkward position flats or shops. Generally in Surat selling the first floor and the top most floors is bit tough. So you can expect some really good bargains here.

  • Dead lines

    Occasionally people make deadlines due to various reasons like leaving the city / country or because want to switch their investments to better options. In such cases too people try to sell off things at a handsome discounts.

  • Brokers Discount

    Some top level brokers take up full marketing projects or are paid according the number of sales they do. Thus they can also pass on their discount further to the buyers in order to achieve bigger numbers. These discounts are not huge as such but still you can save quite a lot.

  • Genuine good price

    It's not always discounts. Sometime some projects are simply good for investment purpose due to nice concept of the project, hot location, nice size of the project, good payment terms and / or combinations of all the above factors. Such projects are also quite hot for investments.

  • Bank Loan Mortgage

    Often if someone has kept a property for mortgage and they are unable to pay the bank loans, the bank will auction to property. But the auctions doesn't give you the best price, in fact it can be like 40% less then market price too. Thus often such defaulters would prefer to sell at discount rather than going for auctions.

• What should I do to check if a Hot Deal is genuine or just a gimmick?

  If you have the budget and personally feel good on any of the hot deals, then

  • Check by the rates of nearby projects; do check the rates as per floors. If you are not sure ask the broker to give the location of nearby properties to compare for.
  • Do find out why the discount is offered, and use your common sense to judge it.
  • Ask for Exit plan from the broker. Buying is easy selling is always tough.
  • Check for the ROI too at an exit plan of 6 months, 1 year, 2 years and 3 years.
  • Make sure that the property papers are thoroughly checked, in case the builder doesn't have any history.
  • Check the brokers as well as builder's reputation and past projects.
  • Make sure you check the Loading Factor well. Many investors have been fooled by this.
  • Discuss with few friends and relatives who have some real estate experience.
  • Always check if the broker has the capacity to resale it at later stage.
  • Keep learning on various Hot Deals in market, so that you get a clear picture yourself with time.
  • One way to calculate real price is FSI cost + Constructions Cost and then finding the price difference. Most reputed brokers will be able to give you this calculations.

  Note: Don't go for Hot Deals by loaning money on high interest even if you feel the deal lucrative.

• What to do once you have bought in Hot Deal?

  If its 20-25% off Hot Deal we would really recommend to simply give the same property for sale at the market price asap. The sooner you get off the better the ROI. And get ready for new offers. The more the money rotation the better the ROI.
  
  If you want to increase your wealth, such deals really happen to be giving reasonable ROI too.