I was going to post a similar question to this one, but this thread gave me some interesting information.
There’s an under-construction property I like — an apartment in a new 6-story — and they have it listed at $360k. I assume that’s higher than they’d accept, but I don’t know how much higher.
Someone suggested I start by offering $100k less, and let them come back with a counter offer to get things rolling, but that seems lot. And someone else told me that not all agents will do counter-offering, especially if you start low.
Seems that there’s probably no standard approach. Every situation is different and if you take the wrong tact it’s just bad luck.
Rowan.
Hi Zuma,
100k offer first up would appear to be a bit low on a property listed at 360k, what i have found that is generally 10% is added on to the desired sale price to allow for the negotiating process. Some projects have a set price from the developer, dictating terms and deposits.
It is not up to the agent if a counter offer is to be submitted, the agent is only a mediator between the vendor and the buyer, and should be working for the vendors interest at all times.
In our agency you may have an rep working for the buyer and a seperate rep working for the vendor. This minimises the likelyhood of a rep not acting on behalf of the vendors interest, buy selling a property lower than what may have been achieved.
I hope to have success with your offer.
Regards
wayne10539
I ended up suggesting $290k, more as a starting point than anything serious. But they gave a flat no, didn’t come back with a counter offer.
Oh well, will keep saving.
Rowan.
Ive had similar responses lately. Put in offers & flat no without counter-offer. I find it rude. If they are not prepared to negotiate I walk away. If they were smart they would counter offer $1k below asking price.
http://www.posigear.8k.com
Positive Geared Share InvestingOriginally posted by crashy:Ive had similar responses lately. Put in offers & flat no without counter-offer. I find it rude. If they are not prepared to negotiate I walk away. If they were smart they would counter offer $1k below asking price.
http://www.posigear.8k.com
Positive Geared Share InvestingI think a flat ‘no’ is the counter-offer. Now it’s your turn. They are trying to keep the upper hand I suspect.
I agree with DLPP though; don’t waste too much energy on one property with an inflexible Vendor. Move on to the next one who may be more flexible. There are plenty more to buy.Cheers,
Marc.
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