negotiating this price

Well since we dont know how about where, what the property is, how mnay views, how long ad etc- as each of these factors can play in how you negotiate ( ie different location have different tricks).

But a few clauses which may get you over the line is:
1. No cooling period
2. <6 weeks settlement
3. Once 10% given no conditions ( simliar to number 1)

Normally you may need a combination of diff tactics + one of the clauses to get you over…as clauses only may not be enough.

Regards
Michael

ps you won't have to come up with the whole $30k… just 20% of it (or whatever your required deposit percentage is that the bank is demanding)

I've implemented this strategy.  The vendor was so blinded by an obsession with wanting a particular price, the offer was immediately accepted with little attention paid to the fact there was a 6mth settlement attached

I said I'll give you $x in 90 days or $z in 180 days,….. in both cases "subject to finance, building and pest and all the rest of it".  I didn't even bother to clarify what I meant by "and all the rest of it".  It was a verbal offer and was accepted verbally, and my solicitor and I then rammed a heap of clauses into the written contract.  The vendor signed it.  Done.

Good stuff JacM, that’s exactly how to do it!

Get chatting with the real estate agent and find out what the vendor wants. I recently bought a place for $270k after being assured the vendor wouldn’t take less than $300k. Sometimes the last person to blink wins.

It’s also worth noting that any written offer must be passed on to the vendor, so if you start at, say, $290k and go to the trouble of writing it, you might condition the vendor to receiving considerably less than the $330k they say they want.

By the way, I’ve got a offer template which might help you when it comes to making an offer. Simply get in touch via the website and I’ll email it to you.

Cheers, and good luck!
Den

If the vendor rejects that,  you could ask if they would finance you for 20 or 30 k , or even more , even interest free, with payments in insallments or however it suits you.  It could be in exchange for quick settlement.  They would just need to  take a 2nd mortage on the property, which can be discharged when you repay the money.     It sounds like you are in a strong posisition to negotiate.  YOU HAVE TO FIND OUT WHAT THEY WANT and why  they are selling.    You may be able to offer them more than they want in return for an interest free loan.   They may not even want the interest as it may affect their pension,  or may increase their tax rate and the amount of capital gains tax  they pay, or just because it affects their ability to get a health care card.  They may want interest paid but not until a different tax year, or at the end of  the loan.    Good luck.

He clearly said he only had 300k to spend. Its not a matter of what he thinks its worth, its what he can afford to offer.

Try to offer $300k, you never know since its a flat market and a good time to buy. Find out why are they selling and create a win/win situation for both.

The selling agent doesn’t always know the sellers motivation either. A smart vendor who really has a minimum of 330k and due to change in circumstances would actually accept 300k is likely to not tell the agent this!

So.. if that’s your property and that’s your maximum, then one idea would be to present a written offer in a polite way and explain your situation as best you can (people don’t usually believe that’s your maximum the first three times you tell them), also since you are taking on price it would be one idea to give on clauses, ie: try and make the conditions stronger for the seller as compensation for the lower price.

Just general ideas and each deal is very individual! Good luck