All Topics / Help Needed! / Negotiation

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  • Profile photo of nitrodropsnitrodrops
    Member
    @nitrodrops
    Join Date: 2009
    Post Count: 132
    July 22, 2009 - 11:38 am

    Hi All,

    When comes to negotiating for a property, say no competition, and i am the only buyer offering. For a property say $450K, how much should i try to start off 1st?

    Minus $20K off?

    Cheers
    Nit

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    July 23, 2009 - 3:45 am

    It depends upon how much you want to pay for the property. What the property is worth, what other similar properties are worth? Is it better or worse than these properties.

    Profile photo of maree_bradrossmaree_bradross
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    @maree_bradross
    Join Date: 2007
    Post Count: 401
    July 23, 2009 - 3:57 am

    within 20% I was told

    Profile photo of FitzerFitzer
    Member
    @fitzer
    Join Date: 2007
    Post Count: 12
    July 23, 2009 - 3:58 am

    Personally if it was me I would be offering $380,000. Remember you can always go up.Don't be too concerned about upsetting the seller after all it's just business.

    Regards,
    Fitzer.

    Profile photo of nitrodropsnitrodrops
    Member
    @nitrodrops
    Join Date: 2009
    Post Count: 132
    July 23, 2009 - 6:53 am

    the property is currently tenanted at $415/week.

    Thus i think the reasonable price would be $430K? This suburb has a median price of $490K.

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