Hi,
I know that every property is different but I am going to ask anyway. At today’s market if you find a property you like what kind of offer would you make (as in for example 20k less than the advertised price or less or close to the price). Just would like to know what the trend is. Would love to hear from people that have tried to make really low offer and the results (succesfull or not).
Thanks[biggrin]Hi Pucci
What your asking is a really tough one because every deal is different.
Some of the issues to consider
demand for homes in the area- If homes are selling really slowly then go in low.
How long has it been on the market- the longer its been on sometimes may mean you can offer less, But not always sometimes its on longer as the seller is holding out for the full price.
How does it compare with other homes in the area. This will give you a feel for what the value of the home is.
Get recent sales data and see how much homes have sold for.
Ask the agent has there been any offers on the home already. If there has what was it for ? Even though they knocked back a 300K offer 2 months ago doesn’t mean they will not accept $280K Today, the sellers cirumstances may have changed.Sorry if you already knew all this just thought i’d offer some comments to help.
I’m negotiating a deal in the US to buy some land the seller want 270K we have offered 200K , now i’d be shocked (pleasantly) if we got it, but you never know. But Its worth way more than 250K to us.
Remember you can always go up but not down.
Don’t tell the agent that you can go higher (even if you know you can), he will tell the seller.all the best
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auThank you that is very helpful
Tough one to call, but as Steve says, money or terms.
If you go in tight, offer a speedy settlement to make the offer more attractive to the vendor. Alternatively if suitable, stretch out the settlement period if the vendor won’t come to you on price. No reason not to ask for both though if the property has been on the market for a while :o)Hi all
one other thing is try to find out as much as you can about the vendor. If you know why they are selling, what they plan to do you can use it to your advantage. Often agents will let things slip that can save you thousands. Eg if they know the vendor is very keen to move interstate or has already an offer on another property and need to sell.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au
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