About Us

 Introduction

Panache Property Consultants is a Mumbai based real estate service provider offering services for:

1.      Fulfilling Corporate and Individual Leasing requirement in South Mumbai & Western Suburbs residential and commercial

2.      Sourcing of Premium resale and under construction residential, holiday home and commercial properties for outright purchase

3.      Facilitating Group buying from developers for residential properties to avail price advantage

4.      We have a largest listings for 3/4/ & 5 Star Hotels & Resorts for Sale in India & Internationally

We are a young and dynamic team embedded with a corporate culture in a very significant but largely unorganized service sector.

Why us as as a preferred vendor?

 

1.      We understand the real estate segment better than many of our peers in this industry

2.      We put emphasis on long term relationship rather than converging on just transaction

3.      We have a strong network of like minded associates hence extensive visibility and reach in marketing or sourcing a property

4.      With us you can be sure of effective utilization of your time because we offer you properties which are relevant to your criteria that we unravel during our 1st meeting by asking you some key questions

5.      We believe that mutual trust in collaboration leads to a rapid and desired result

 

We understand that you may have your tried and tested realtors/ brokers to work with, however you would appreciate enhanced service level that can add value in your real estate selling and sourcing process which we can bring across the table, what we can assure is high level of integrity, flexibility in adapting various methodology in positioning your property to the appropriate potential buyer and fastest turn-around time in offering you your choice property.

 

Our Advisory

 

In the current economic situation, experts are talking of battered real estate sector which may further spiral into fatal crash; such speculation resonates with majority of buyers waiting endlessly for the day when the speculation comes into fruition. Let us assume, the speculative theory advocating the crash fails to translate into reality, while it might not have huge impact on investors, however it will have a significant bearing on end user’s.

 

So the most conspicuous question staring at us is whether to buy now or wait for what one thinks is a right time and lower price. I believe that there is no right or wrong time to buy a property rather it should be based on one’s financial capability and need. If one has a need to buy a property then waiting for the right time is like hoping to win a lucky draw where odds are always against. Why wait for buying a property when you need it now. If past trends are any indication than waiting for a right time will only increase the chances that the property you wish to buy now will be beyond your reach later. However there is also a probability and not a certainty that the price could come down but the opposite is also true.

 

If you are an investor then the strategy should be to buy when you have the required resources and then wait for the right time to sell, this strategy will position you in command rather than founding your decision on uncertainty of impending distress sale or dwindling market scenario.

 

It’s a biggest purchase of your life, and small mistakes can be very costly. So let me share some points to be seriously considered in your house-buying battle plan.

 

1.      Should you buy?

However hysterical, the real estate price appreciation seems like, there is no dearth of aspirants for buying a house. Question is what, when and whether to buy.

It’s always good to own a house but there are too many with ‘must own’ mentality which is unhealthy. Owning a house equals to security is false notion, it’s a nice goal but you are no looser if you don’t scramble onto the ladder. Bigger Picture, financial security is more important. Dent on your health and emotions will be even greater if you end up chewing more than you can swallow.

 

2.      True buying cost?

Your loan eligibility is not all that will help you grab the keys and put you in the house. There are other things to factor in.

·        Loan Service Charge: You need to pay for your application for just assessing your eligibility, it varies from INR. 2,500/- to INR. 5,000/-, depending on the bank or institution and in case u have a history of default then u end up into the trap  of applying with multiple banks through DSA’s who keep tricking you with assurances to overcome negative ‘CIBIL’ score.

·        Own contribution: In general you will factor the 15 to 20% of the total cost of buying a house. But that’s not all, you also need to be aware of ownership transfer fees which varies from INR. 25,000/- for property below 1 Cr, and it can go up to even 3 % or. It’s advisable to do thorough research before you commit to buy any house.

·        Cost of relocation: Unless you have belongings that can fit into the back of your car, you should consider a large pick up van or truck that may cost you from INR. 10,000/- to INR 30,000/- depending on no of rounds and distance.

·        Legal Charges: Hiring a lawyer for legal advice, documentation and legal search on the property is prudent; it’s always better to be safe than sorry and avoid getting drawn into a dubious transaction. Legal charges will be anywhere between INR. 10,000/- to INR. 1,00,000/- depending the extent of service being rendered.

·        Repair & Maintenance: From leakages to peeling paints, you will have set aside some stash of cash for unexpected property maintenance. If you want an interior designer to redo the whole house to give it an elegant look that goes with your status than the expenses can spiral beyond what you fathomed

 

3.      Get a pre-approved loan: Having a pre-approved loan will define your precincts and prevent you from grief of looking at houses that you can’t afford, it will also put you in a better position to place serious offer for house that you like. Never ever pay a token amount unless you have pre-approved loan, because if due to some reasons like credit history or eligibility, you do not get the required loan then you are at a risk of forfeiture of your token amount.

 

4.      Study the market trend: With the proliferation of internet, you have all the information at your fingertips. Do a bit of study about the area where you want to buy a house, go through some property sites, check the current going rates and dial few brokers to check what the last transaction price was. Not necessary that all brokers will provide you with the precise information but at least you will have an indication of the range within which you can plan your offer.

 

5.      Avoid trying to Time the Market: Buying a home is unlike day trading on bolt screen, it is a once in a lifetime or a long term decision. It’s best to avoid the speculation and follow your instinct. The best time to buy is when you have a need and required finance.

 

6.      Work exclusively with proficient broker: Take your time to zero down on the property broker you want to work with after assessing their skills, capability and communicability to get your job done. Ensure that your broker understand your criteria and offers you pertinent options, and mutually agree on the timeline for achieving your objective. Involving multiple or fleet of brokers who are not competent enough would cause delay in meeting your objective and lead to frustration. There are lot of them in the market who will commit you sky with misguided information in order to gain your business. It’s imperative to comprehend that multiple advisors/ brokers will only prolong your process and mess up your search for ideal abode, most of them will approach the same owner, leading to assumption, that their property is in demand or there are hordes of buyers which will instigate seller to hold on or increase their price with a very little chance of negotiation.

 

7.      Who is the broker working for: It’s important to know if the broker is working for you or the seller, because if he is for seller than he will definitely try to induce you for a higher price by inflating the actual market price or last transaction price in the area, to placate the seller or investor. In general, brokers are under obligation to fetch higher price for the property if they are representing a seller which often becomes a reason that the property remains in the shelf for too long. Lookout for someone who is professional and can give you unbiased information and broker a good deal for you.

 

8.      Resale attributes of your home: It should not only suit your needs, you should think about selling your home while buying.

·        If you buy a house amongst the most desirable location than odds are bright that it will remain in favor and attract large pool of buyers when you decide to sell.

·        3 BHK home sells faster than the 4 BHK home and a 2 BHK sells faster than a 3 BHK home. Unless it’s a need than buying a smaller configuration home is always a smarter option because there will be more buyer who can afford smaller home.

·        Always consider a home with little wastage of space, buyers are looking for efficient space utilization while buying a home.

·        Buying a home built on single level is more desirable than a duplex since it’s easily accessible for kids, aged and handicapped family members.

·        Look for home with reserved parking rather than open parking which is always at the top of buyer’s wish list.

 

9.      Discount on the going rate: If buying in a primary market (from builder), than adapt group buying method or alternatively buy from investor who has already bought large chunk of inventory in the project during the planning stage, but then such investors are discreet. Work with an astute consultant and volunteer for group buying from or ask them to source an investor to avail better discount than what builder is offering. Investor deals has it’s intricacies, it may require higher upfront payment including cash and may not be transferable due to lock-in agreement with the builder. However it’s advantageous to have the options in hand and then negotiate with the builder.

 

10.  Extending or Negotiating an Offer: If you are serious about buying that home than meet face to face with the seller rather than conveying the offer over phone through your broker, you will never know the bottom price unless you sit across the table with the seller and arrive at a judgment.

 

Our Tips.

 ·        You should know if the offer is negotiable, which is in most cases, however there is a possibility that the seller has quoted you a bottom price.

·        Check with your broker, when and what was the last counter offer given by seller. If the earlier meeting was quite some time back and the seller has maintained the same price, than take a chance of offering below the last counter offer made by the seller.

·        Know the price of the last transaction but never keep that as your target price, because the home in the said society may have more demand than the available supply.

·        If you are funding through mortgage than get a pre-approved loan which will put you in better position during closure

·        Offer the seller to close the transaction early which may induce the seller to agree closer to your offer price.

·        Be prepared to pay a premium for the home if many buyers are vying for the same home

·        Odd number offers are more intuitive and taken seriously. Round number sounds like every other offer but when you get more specific the sellers will think you've given the offer careful thought.

 

We are professional property hunters, you tell us specifics of your requirement in outright or lease and we will hunt it down for you.

 

Tell us your budget, location and type of property you need and we will be bang on our target and turnaround within 48 hours with results apt for your soothing.

 

When you hire us as a buyer, seller, licensee or licensor, you can be assured of professional and organized approach and highest level of integrity and unbiased approach.

 

As a buyer or licensee we will be committed to get you your choice property and as a seller or licensor we will give you information that will allow you to put a fair price on your property that will increase your chances of getting a deal done.

 

A seller or licensor is more often than not misled by property advisors/ agent who do not have much value to offer as an advisor. We will adapt a consultative approach with you on your requirement to sell or lease out a property, help you with the research data on what’s the price of the equivalent property and what was the last transaction price for similar property in the same project/ location, all this information at your disposal will help you to take an informed decision on pricing your property and the appropriate time for exit. It’s very simple, transaction keep happening regularly because there is no dearth of genuine end users with improved financial ability but the first property that’s lapped up by the buyer could be similar property at a cost lower than that of yours. More often than not, the transaction happens at the bottom of the table, meaning the property priced lowest in the particular project or location is transacted first, because however expert agent you get for negotiating a good deal for you, buyers or licensee will do their own research and go for property that’s at the lowest price, unless off course if there is substantial differentiating factors like higher floor, exquisitely furnished, view etc. which will fetch you premium over other properties.

 

We look forward to be of service to you in your exertion towards buying/ selling or leasing of your real estate.a

 

PANACHE PROPERTY
4/99, Mhb Colony, Near Western Express Highway, Bandra East. Mumbai 400051.
+91-9820184402
panacheprop@gmail.com
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